Emerging guidelines for linking youth to financial services

Authors: Storm, Lara; Porter, Beth; Macaulay, Fiona

Source: Enterprise Development and Microfinance, Volume 21, Number 4, December 2010 , pp. 307-323(17)

Publisher: Practical Action Publishing

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Abstract:

Access to appropriate financial services can play a critical role in enabling young people to navigate the challenges and opportunities they face, regardless of their employment or educational status. This paper discusses: 1) the results of a global survey conducted in 2009 by Making Cents International; and 2) findings of leading NGOs and financial institutions which are pioneering youth-inclusive and youth-specific financial products. The outcomes of the survey findings and lessons learned have been synthesized into six 'Emerging Guidelines' for linking young people to financial services. Existing concerns are explained regarding defining and achieving impact, sustainability, scale and a favourable regulatory environment as it relates to youth-inclusive financial services. The paper concludes with practitioners' visions for this nascent field by 2020.

Keywords: YOUTH; YOUNG PEOPLE; CHILDREN; SAVINGS; CREDIT FINANCIAL PRODUCT DEVELOPMENT; NON-FINANCIAL PRODUCTS

Document Type: Research article

DOI: http://dx.doi.org/10.3362/1755-1986.2010.028

Publication date: 2010-12-01

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Enterprise Development & Microfinance provides a forum for those involved in the design and implementation of enterprise development and microfinance programmes in developing countries. With themes such as the sustainability of microfinance institutions, the impact of poverty on clients and producers and value chain development it is essential reading for managers of projects, providers of technical assistance, consultants to projects, policymakers and the staff of donor agencies.
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