On Friday January 22, MEDA is very pleased to be participating in the International Forum, hosted by WUSC and CECI. The theme of the forum is ‘Inclusive Economies, Inclusive Societies: Collaborative Action for Youth and Women.’ We will be presenting a case study on our approach to financial inclusion for youth. This blog gives a preview of what we will be discussing at the event. Hope to see you there!What is financial inclusion and why is it important?
Financial inclusion means having access to a range of suitable, affordable services, including savings (formal and informal), loans and financial education. Access to youth-appropriate savings and loan products helps young people plan for their future. Youth-friendly financial services can lead to many positive outcomes, including heightened ability to manage money, build assets and improved opportunities for entrepreneurship. And yet, less than 5% of youth (ages 15-24) worldwide are currently being reached by financial services.