Asia-Pacific, as a region, accounts for more than half of the world’s unemployed youth – about 220 million young people. In response to the urgency of this issue, the Organisation for Economic Co-operation and Development (OECD), the Bank of Thailand (BOT), and the Securities and Exchange Commission of Thailand (SEC) organized the OECD/Thailand Seminar on Financial Inclusion and Financial Literacy in Asia in Bangkok, Thailand last December 16-17, 2014.
Bringing together more than 150 international experts from 30 countries in Asia-Pacific, the seminar tackled topics related to advancing financial inclusion and financial literacy within the Asia-Pacific, with a primary focus on national strategies addressing:
- the emerging topic of financial education’s role in supporting micro-, small-, and medium-entrepreneurs (MSME’s),
- the complementary nature of financial education and consumer protection,
- measuring the impact of financial education.
How Economic Citizenship Education can Boost Youth Entrepreneurship and MSMEsRene Cuartero, Child & Youth Finance International’s Regional Advisor for Asia and the Pacific, stressed the key role which Economic Citizenship Education (ECE) – a curriculum which combines financial, social and livelihoods education - can play as a driver for youth entrepreneurship in the Asia-Pacific.
As young people dictate the future of the region, investing in young people’s ECE is vital to ultimately empower young people to have the capacity to make good financial decisions, find the work they want, or establish their own enterprise. By receiving ECE young people’s interest, initiative and confidence in starting their own entrepreneurial initiatives can be vastly increased – contributing to the emerging importance of MSMEs to stimulate job creation and drive overall economic growth.
The author of this article is Rene Cuartero, Regional Advisor for Asia and the Pacific at CYFI
Rene leads CYFI's efforts in Asia and the Pacific, a region he holds close to his heart. He finished his BSc Economics and BSc Financial Management studies in the Philippines, and his MSc International Management in the Netherlands. During his diplomacy courses he realized that his true passion lies and has always been in creating meaningful impact for future generations – a passion that led him to CYFI. Rene considers himself as a “Global Filipino” and is always enthusiastic to learn and grow his expertise in business, international affairs, and pop music.