CYFI News & Blog

Latest news and articles from Child & Youth Finance and the CYF Movement Network

CYFI and KGB partners to deliver SchoolBank to 50,000 kids

CYFI and the Kerala Gramin Bank (KGB) has signed a Memorandum of Understanding (MOU) to pursue a SchoolBank program in Kerala, India through KGB's FI@School project. The project is set to begin in January 2017 and implemented in a span of 1 year.

The MOU outlines the FI@School project that aims to impart financial education and financial inclusion of about 50,000 students studying in 500 schools in Kerala. This will be achieved through the adoption of schools by 500 branches of the Bank over a period of six months, followed by the implementation of the project where kids learn financial education and open their own bank account. This project targets to cover students in class VI and VII. Additionally, KGB aims to actively participate and promote the program during Global Money Week. 

Together with KGB and Rajagiri Outreach (the local NGO partner in delivering child social and financial education training), two Social and Financial Inclusion Trainers trainings have already been concluded. The first training program was in Kannur, Pallikkunnu on the 11th of January, 2017. The training was attended by 32 participants from the districts of Kannur, Kasargoad and Waynad. A second training program has also already been conducted in Malappuram on the 13th of January, 2017, which was attended by 23 participants. 

The main focus of the trainers training is to teach teachers and bank staff how to interact with primary class students on matters related to financial education. In addition, the training also provided participants with various tools and mediums such as presentations, budgeting samples, role playing, chart presentations, and other learning methods. 

The project will have its official launch on the 23rd of January, and is expected to continue rolling-out throughout the year. 


About Kerala Gramin Bank

Kerala Gramin Bank is a major financial institution in Kerala with 600 branches spread across the whole state of Kerala, mostly in rural areas. It is the second largest network in the state among public sector banks. The Bank is owned by the Government of India, Canara Bank and State Government (Government of Kerala). It has a total deposit base of Rs. 148 billion with advances of Rs. 127 billion. It provides financial services to over 70 million persons in the State. Most of its clients are agriculturists and small & medium entrepreneurs. It is also the largest Regional Rural Bank (RRB) of the country in terms of total business – and it is a profit making entity since inception. Kerala Gramin Bank was formed in 2013 by amalgamating two RRBs (regional rural banks) of the state (South Malabar Gramin Bank and North Malabar Gramin Bank), both of which started in 1976. Thus, it has 40 years' legacy in rendering financial services.


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Three affiliated organizations for youth ranked in world’s Top 100 NGOs!

For the second year running, three organizations founded by Jeroo Billimoria have been ranked in the world's Top 100 NGOs!

The newest rankings of NGO Advisor's Top 500 NGOs list place Aflatoun International 29th, Child & Youth Finance International (CYFI) 45th and Child Helpline International 95th on the list of the world's top charitable organizations.

Joining other leading NGOs working to better the lives of children and young people, all three organizations were founded by pioneering social entrepreneur, Jeroo Billimoria. Being the only individual in the world with three different organizations ranked in the top 100, Jeroo has worked to empower young people and has challenged the systems which perpetuate poverty for over 25 years.


One social entrepreneur, three leading organizations

Jeroo founded CYFI, Aflatoun International and Child Helpline International with the intention of improving the lives of young people worldwide.

From working with street children in her native Mumbai to challenging financial systems which continue to limit young people in reaching their potential, Skoll awardee and Ashoka and Schwab Fellow Jeroo's work has been recognized around the world.

Jeroo credits the success of her three Amsterdam-based NGOs to their collaborative work to create lasting change. Of the incredible rankings, she said:

'I am delighted that three of my organizations have been recognized in the world's Top 100 NGOs for their work in supporting children and young people. The power of children knowing about money, saving and believing in themselves is key to positive and sustainable impact.'

A network approach lies at the heart of the successes of all three organizations in supporting child rights globally, with each working with a range of institutions, governments and organizations at international, regional and local levels.

Together, these three organizations have helped more than half a billion young people worldwide and continue to positively impact the lives of young people across 139 countries.

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CYFI Stakeholders Meeting in Vietnam

CYFI has collaborated with the Vietnam Microfinance Working Group (VMFWG) last 12th of December to have a number of Stakeholders Meeting with Vietnamese stakeholders in the field of financial education in Vietnam for children, including the State Bank of Vietnam and the Ministry of Education and Training of Vietnam.

The Stakeholders Meeting in Vietnam has allowed CYFI to introduce the mission and goals of the Child & Youth Finance Movement, as well as the various tools and expertise that the network would be able to bring and contribute to the development of Vietnamese child financial education landscape.

In particular, the Stakeholders Meeting provided a platform to start discussions on the importance of financial education and financial inclusion of young people in Vietnam – an area that shows immense potential in development. Best practices and case studies that were achieved across the world were presented, as well as concrete actions that the country may take to be able to move forward. 

Included in the Stakeholders Meeting were the discussions for the launch of a national effort on Global Money Week for 2017. A portion of the meeting also provided an opportunity to present a portion of the National Strategy for Financial Education Workshop to potentially assist the country in developing a child-centred financial education strategy.

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Child-Friendly Banking Product Development Workshop in Bangladesh

CYFI provided a Child-friendly Banking Product Development Workshop from 6-8 December in Bangladesh, co-hosted by the Bangladesh Bank at the Bangladesh Bank Training Academy in Mirpur, Dhaka.

The workshop had attendance and delegates from 42 commercial banks working in the field of product development, product design, product marketing, and product strategy. In addition, the workshop was joined by 6 officials from the central bank to learn from the sessions and provide feedback from the viewpoint of the regulators.


In particular, the Stakeholders Meeting provided a platform to start discussions on the importance of financial education and financial inclusion of young people in Vietnam – an area that shows immense potential in development. Best practices and case studies that were achieved across the world were presented, as well as concrete actions that the country may take to be able to move forward.

Included in the Stakeholders Meeting were the discussions for the launch of a national effort on Global Money Week for 2017. A portion of the meeting also provided an opportunity to present a portion of the National Strategy for Financial Education Workshop to potentially assist the country in developing a child-centred financial education strategy.

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Product development workshop in Ivory Coast

CYFI facilitated a product development workshop in Abidjan, Ivory Coast on the 23rd, 24th and 25th of November. This workshop had been organized in partnership with the Program of Financial Education of the Ministry of National Education. 

The Program of Financial Education (PFE) of the Ministry of National Education in Ivory Coast aims at enhancing the financial knowledge of the entire educational community hence, in particular focusing on children and youth in Ivory Coast. The program, established in 2013 with the intention of tackling the challenge of over indebtedness of teacher that had negative consequences on the teaching quality, has already reached 24.000 adults and 60.000 children. 

The PFE is also CYFI's partner in the country and leader of the Global Money Week campaign in the country. During the last edition of the Global Money Week, more than 15 events were organized at national level and around 21,700 children were reached. However, Ivory Coast is one of the countries of the region where financial inclusion of youth is amongst the lowest. In an attempt to  raise awareness of this matter and engage the private sector towards oriented action, the PFE organized the Product Development Workshop. The workshop aimed at making the case of the importance of youth financial inclusion and guide the local banks and financial institutions in the process of developing child and youth-friendly banking products.

A part of strengthening the collaboration between different key institutions in the country in financial education and inclusion, the workshop laid the ground for the implementation of the SchoolBank project in the country. It is expected that the project implementation will start in the first quarter of the year, in collaboration with local schools, the Ministry of Education, the Plan for Financial Education and GTBank.

For more details, information regarding the workshop, please follow this link to the report (in French).

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CYFI, CBK and KBA hold stakeholder workshop on financial education in Pristina

In collaboration with the Central Bank of Kosovo (CBK) and Kosovo Banking Association (KBA), Child & Youth Finance International (CYFI) organized a stakeholder workshop on the national approach to financial education in the capital Pristina on 22-23 November 2016.

The workshop was hosted and held by the initiative of the Central Bank of the Republic of Kosovo and became the first national-level event on financial education in the country. The workshop was aimed at increasing awareness on financial education among national stakeholders, the roles that different stakeholders and organizations from various sectors can play in promoting financial education in Kosovo, and at determining ways of cooperation between public, private and civil society institutions in this sphere.

The workshop covered various aspects that can assist countries in fostering the development of the nationally coordinated approach to financial education, stakeholders' management, integration of financial education in the school curriculum, piloting SchoolBank project, best practices examples of financial education programs for youth and adults and many more. Moreover, the workshop also featured sharing the experience by experts from Bank of Albania, one of the most successful institutions in the region in promoting financial education, as well as provided a platform for local government, private and civil society institutions to share their experiences in financial education in Kosovo so far.

At the end of the workshop CBK and other stakeholders expressed the readiness to form a national platform for financial education in Kosovo, and cooperate closely on developing new educational programmes and campaigns, including Global Money Week campaign 2017. The platform would have an objective to serve as a space to exchange best practices, experiences and streamline and coordinate financial education initiatives in the country.


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CYFI Network Star - Andrew Pavlovsky

This month's CYFI Network star is Andrew Pavlovsky, an inspiring young investigative journalist from Ukraine!

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CYFI joins Canadians in Celebrating Financial Literacy Month


November is Financial Literacy Month in Canada with activities for people of all ages happening across the country to promote financial responsibility and financial well-being. Each week has a dedicated theme related to budgeting, saving, living within your means and knowing your financial rights and responsibilities.

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3 events - 1 platform for young entrepreneurs!

CYFI initiative, Ye! community, has been busy working with young entrepreneurs all over the world! With events in Ukraine, Kenya, and India, the sky's the limit for the fastest growing online platform for young entrepreneurs!

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Successful culmination of Flagship Visegrad project – Experience exchange between Central and Eastern Europe

In October 2016 CYFI and its 9 project partners have successfully concluded the project, supported by the V4EaP Program of International Visegrad Fund, aimed at experience exchange between Central European (Visegrad) countries and Eastern European (Visegrad Partnership) countries in financial education strategies and programmes for young people.

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Empowering children and young people for a sustainable future - Aflatoun International Meeting 2016

Children make up half of the nearly 900 million people living below the global poverty line, according to UNICEF, and 124 million children and adolescents worldwide do not attend school.

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Economic citizenship and the global effort to reduce child poverty

Reducing child poverty remains an important challenge facing national governments and international organizations. Through our effort to enhance the financial capabilities of young people throughout the world, Child and Youth Finance International (CYFI) is proud to endorse the recent Practical Action publication The Global Child Poverty Challenge: In Search of Solutions, which tackles the root causes of child poverty while providing fresh insights on innovative solutions to enhancing the social and economic lives of young people.

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nimbl – the future of financial inclusion through fintech

In a recent survey of 6,000 parents in the UK, 7 in 10 agreed that their children do not understand the value of money in the way that they did when they were the same age. The survey, commissioned by nimbl, the prepaid MasterCard® debit card and smartphone app for children aged 8-18, found that 80% of parents believe that children spend money too easily. 2 in 3 parents also believe that the growth of digital money makes it harder for children to learn about spending.

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G20 High-level principles for digital financial inclusion have been endorsed!

Under the leadership of the Chinese G20 Presidency, the G20 Global Partnership for Financial Inclusion (GPFI) developed a new set of High-Level Principles (HLPs) that encourage governments to promote a digital approach to financial inclusion.

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CYFI conducts workshop on active learning methods in Moldova

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Workshop on active learning methods and product development workshop for child and youth friendly banking products in Azerbaijan

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KIESA, ICK and Ye! Join Hands in Boosting Young Entrepreneurs

On September 9, 2016 eight emerging young Kosovo entrepreneur stars pitched their business ideas to policy makers, angel investors, financial sector representatives and successful entrepreneurs during a high-level pitching event hosted by the Kosovo Investment and Enterprise Support Agency (KIESA). At the event, Mrina Godanca from “Architecture for Humans”, won the “Ye! Young Entrepreneur of the Year” Prize. The 2nd place goes to Mendim Avdyli (Sumthesun) and 3rd place to Lum Kryeziu (Spartments). The two entrepreneurs received interest-free loans provided by TEB Bank to further develop their business ideas.

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CYFI Network Stars: Tom Okot

This month's CYFI Network Star is Tom Okot, a young entrepreneur who has created positive social impact as part of his work around farming reform!

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Fiji releases their 2016-2020 National Financial Inclusion Strategic Plan

The Reserve Bank of Fiji and the country’s National Financial Inclusion Taskforce has unveiled their 2016-2020 National Financial Inclusion Strategic Plan. This plan is a follow-up to their first national strategy 2010-2014, wherein the country has been able to successfully integrate Financial Education (FinEd) into the national curriculum for primary and secondary students.

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Advancing Economic Citizenship for Youth alongside Trade and Development

Financial inclusion, financial capability and sustainable livelihoods are essential components of full economic citizenship, contributing to economic development within and between nations. CYFI works with key UN agencies, such as UNCTAD and UNCDF, to promote full economic citizenship for children and youth through government agencies, private enterprise and civil society.

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