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YOUTH FINANCIAL INCLUSION November 3rd, 2011. What is financial inclusion?.
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YOUTH FINANCIAL INCLUSION November 3rd, 2011
What is financial inclusion? • «Full financial inclusion is a state in which all people whocan use them have access to a suite of qualityfinancial services, providedataffordableprices, in a convenientmanner and withdignity for the clients. • Financial services are delivered by a range of providers, most of themprivate, and reacheveryonewhocan use them, includingdisabled, poor and rural populations» Center for Financial Inclusion at ACCION International
Some food for thought: • Whereis the gap? UNCDF marketresearchstudy in SubSaharianAfrica, Maria Perdomo • How to understand the clients better Child’s Finance Certification Initiative withyouth entrepreneurs, Jared Penner • How to design productsresponding to clients’ needs Partner MicrofinanceFoundation and young entrepreneurs, Selma Climkovic WWB youth programs in Mongolia, Kenya, DominicanRepublicJaniece Greene
Key questions • What are the specific challenges for youth? Is it more in terms of: • Offer of services • Demand of services • What are the most effective interventions? • Capacity building of the financialsector • Financial education • Regulatorymeasures – enablingenvironment and consumer protection