CYFI Regional Focus Group Meeting and Workshop Series for Asia and the Pacific
Identifying and Overcoming Challenges: Scaling Economic Citizenship Education, Financial Inclusion and Livelihoods for the Next Generation in Asia-Pacific
The CYFI Regional Focus Group Meeting and Workshop Series for Asia and the Pacific is the first and only dedicated meeting at the regional level that deep dive into the issues, challenges, and opportunities that tackle child and youth economic citizenship. This concept of economic citizenship encompasses children and youth’s ability to make sound economic decisions by equipping them with financial knowledge, their access to appropriate and child-friendly financial products through financial inclusion, and building their capacity to become entrepreneurs that will not only help them employ and invest on themselves, but also their communities.
The meeting and workshop series serves as a concrete platform for representatives from diverse levels and sectors to share, network, innovate, and connect specifically intended for the Child and Youth Finance Movement in Asia-Pacific. The meeting then becomes the stepping stone that aids CYFI and its governmental and non-governmental partners in the Asia-Pacific to transform the regional conclusions to national actions.
The CYFI Regional Meeting is part of a series of annual regional consultations and stakeholder meeting events addressing issues on Economic Citizenship Education (ECE) , Financial Inclusion, and Livelihoods Capability of young people.
In particular, more than half of the world's young people – some 650 million between the ages of 10 and 24 – live in Asia and the Pacific. In some parts of the region, young people make up nearly 20% of the population. However, about 12.8 million young people in East Asia, 8.3 million in South-East Asia & the Pacific, and 15.3 million in South Asia still remain unemployed .
These figures in Asia-Pacific present both as a challenge and an opportunity to improve lives across the region through the advancement of economic citizenship. At this time when innovations and policies related to children’s financial issues are gaining momentum, it is important to focus on the realities faced by an entire generation that will have impact on the development of the whole region – and it is due to these that the CYFI Regional Meetings exist.
The Child and Youth Finance Movement has grown significantly globally – with partners in the CYFI network reaching more than 18 million young people in 125 countries within only 3 years. Nevertheless, the Child and Youth Finance Movement in Asia-Pacific continue to show immense potential in creating an even more significant impact. Therefore, to scale these efforts, the organization is pioneering the First CYFI Focus Group Meeting and Workshop Series in Asia-Pacific brings together select strategic partners seen to be key drivers within the region to advance financial inclusion of young people.
Objectives & Expected Outcomes
It is with this rationale that CYFI has established three key objectives for this meeting and workshop series:
- Baseline & Gap Analysis and Way Forward: Bring together select strategic CYFI partners that will be able to identify the gaps and opportunities to address the regional challenges in Asia-Pacific related to ECE, financial inclusion, and entrepreneurship for children and youth.
- Workshops Focusing on Strategies and Tools: Host workshops that will clearly outline the strategic plan and commitments toward advancing the Child and Youth Finance Movement, while offering tools that the CYFI Secretariat and its network can leverage to enhance the quality and the reach of their activities.
- Connecting Public, Private, and Civil Sectors to Scale: Combining the effort of a multi-sectoral platform to draft a strategic document to scale financial inclusion and social & financial education programs for young people in Asia-Pacific. This part of the meeting will leverage the network of CYFI and Aflatoun through a joint stakeholders meeting on the second day.
The CYFI Regional Focus Group Meeting and Workshop Series for Asia and the Pacific will bring together a focus group of senior- to high-level National and Regional stakeholders, including representatives from Central Banks and Governmental Authorities, Educational Services Providers, Financial Services Providers, Banking and Microfinance Associations, and Regional Bodies on the first day. This is then followed by connecting these stakeholders to international and local non-governmental organizations, and Foundations on the second day.