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Financial Education For All: Summit in the United Nations


From May 21th to May 23th, 2014, the joint meeting co-hosted by United Nations Microfinance and Capital Development (UNCDF) and Child &Youth Finance International A Chance for Change: Child and Youth Finance in the Post-2015 Development Agenda was held at the UN headquarters in New York.
Financial inclusion 2/6/2014 Send to a friend
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I was privileged to be invited (as member of the EESC and rapporteur of the opinion about financial education) and I had the opportunity to discuss the last advances concerning financial inclusion and financial literacy, with a diverse representation of relevant stakeholders. In essence, the three mains recommendations were:

Economic Citizenship Education (financial, social and livelihoods) should be offered in primary, secondary and post-secondary school curricula. This should be included in the Post-2015 Development Agenda in focus area 4 and/or focus area 5 with the mandate that all children and youth regardless of gender should have access to these important education topics.

Financial Inclusion Every youth should have access to child and youth friendly banking products. This scheme could be linked to the graduation from primary school. This should be included in the Post-2015 Development Agenda in focus area 1 and/or focus area 8 with specific mention to all children and youth having access to child and youth friendly banking products from the age of 8 onwards.

Youth Livelihoods Governments should create policies and programs to prevent youth unemployment and facilitate youth entrepreneurship through special funds. This should be included in the Post-2015 Development Agenda in focus area 8, 9 and/or 16 with the specific mention that creating job opportunities through entrepreneurship and training are critical governmental responsibilities for ensuring the livelihoods of the coming generations.
 
Children and youth from across the world presented their ideas today in the United Nations Headquarters in New York, to high-level stakeholders from 90 countries on what they think should be included in the Post-2015 Agenda.

The youth representatives shared with the high-level stakeholders the 8 points that they think should be included in the Post-2015 Development Agenda. The 8 points, which they detailed in every session and which were responded to by the panelists are listed below:
  • Creation of a youth-led UN body dedicated to the youth´s social and economic well-being
  • Economic Citizenship Education (ECE) should be offered in primary, secondary school and post-secondary school curricula
  • Every child and youth 12 to 18 should have a bank account
  • Governments should create policies and programs to prevent youth unemployment and facilitate entrepreneurship through special funds
  • All companies should dedicate a portion of their revenue profit to youth related activities
  • There should be special tax benefits for youth, especially youth entrepreneurs
  • Governments should ensure that all youth currently up to the age of 30 have a bank account
  • In conclusion, every person in the world should be financially included especially youth from 18-24. The meeting’s outcomes are detailed in the following summary report link

Carlos Trias Pintó
EESC member

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