1. Rene Cuartero
Regional Advisor for Asia and the Pacific
Child & Youth Finance International
December 17, 2014
Financial Education and Beyond:
Empowering and Encouraging Youth Entrepreneurship
OECD/Thailand Seminar on Financial Inclusion and Financial Literacy in Asia

2. Youth Unemployment: A Global Challenge
Youth make up 37%
of the world’s
unemployed
The current youth
employment rate is 13.1%,
which is nearly
3 times higher than the adult
unemployment rate
400 million additional
jobs need to be created
in the next 10 years just
to absorb the new
entrants to the job
market
SOURCE: “Global employment trends for youth 2013”, International Labor Organization
*Youth: Age 25 and below

3. Asia and the Pacific alone accounts for more than
half of this challenge globally – therefore, there is a
need to structurally address this growing problem.
Total of 357.7 million youth
worldwide were not in education,
employment or training – and this
is expected to further increase*
62% are from Asia-Pacific
• 101 million from South Asia
• 119.4 million from East Asia
and the Pacific
$40 billion in losses per year†
due to youth unemployment &
gender gaps in NEET
Asia and the Pacific By The Numbers
*Organisation for Economic Co-operation and Development (2010). “Off to a Good Start? Jobs for Youth”; and World Bank (2012). “Youth Employment in the Developing
World – A profile: Data from World Bank Micro Surveys”.
†Asian Development Bank (2013). “Youth Employment and Skills Development in Asia and the Pacific”.
‡United Nations (2014). “Regional Overview: Youth in Asia and the Pacific”.
Other Key Vulnerabilities‡
• Absence of unemployment
support measures for youth
• Long-term unemployment is
more prevalent for the youth
• Youth unemployment leads to
vulnerability to social
exclusion
• Job creation can’t be
anchored by government and
companies alone

4. Support for the young demographic should go
beyond providing jobs or training youth for jobs.
CYFI Model of Economic Citizenship
Various studies have shown that higher financial literacy and
increased financial capability is a key driver in generating and
maintaining sustainable drive for entrepreneurial ventures.*†
Strengthen
financial
capabilities
Achieve economic
empowerment and
make sound
financial decisions
Generate interest
and initative to start
entrepreneurial
ventures
Stimulate job
creation and
drive economic
growth
1
2
3
4
*US President’s Advisory Council on Financial Capability (2013). “President’s Advisory Council on Financial Capability Report on January 29, 2013”.
†Junne, G., Knoote, F., Rodima-Taylor, D., de Winter, D. (2014). “CYFI Network Brief 1 – Youth and Remittances: Implications for Policy”.

5. Some policies extend from just providing financial
education up to supporting initiatives that
holistically empower young entrepreneurs
Description
▪ Unlocking of potential of youth through entrepreneurship, encouraging training programs,
increasing access to finance, which are key aspects in Kenya’s Vision 2030 Strategy
▪ Establishment of entrepreneurial hubs in Kenya
▪ Creation of the Youth Enterprise Development Fund with the core purpose of supporting
young entrepreneurs to reduce youth unemploymentKenya
Malaysia
▪ Strong focus on young entrepreneur education and training through the Ministry of
Entrepreneur and Co-operative Development
▪ Added emphasis on forming entrepreneurial culture and practical training sessions
▪ Role-out of 1Malaysia Entrepreneurs (1MeT, Ministry of Finance) – a “National Blue Ocean
Strategy” considered as a key pillar for Malaysia’s overall social transformation agenda.
European Comm.
▪ Since the crisis in 2008, the European Commission has increased its commitment to
entrepreneurship and youth capacity-building
▪ Establishment and funding for Erasmus for Young Entrepreneurs – a program that allows
young entrepreneurs to learn from experienced entrepreneurs
▪ Integrating to the EU strategy a specific focus on youth employment and entrepreneurship
Key Program(s)Case Example

6. These policies could be complemented by
initiatives that directly engage youth and empower
them through financial education and awareness
Some initiatives from the Child and Youth Finance International (CYFI) Secretariat:
Ye! Community Global Money Week
A global platform of young entrepreneurs
to help develop themselves by connecting
with their peers, finding resources &
training, receiving coaching & mentoring,
and raising funding.
An annual celebration that brings together stakeholders
from various sectors (governments, central banks,
financial institutions, (i)NGOs, academics, youth, and
more) to raise awareness on financial education, financial
inclusion, and entrepreneurship of young people.
http://www.yecommunity.com http://www.globalmoneyweek.org

7. In summary:
Growing Global Challenge
of Youth Unemployment
Strengthening Financial
Literacy and Financial
Capabilities at a Young
Age
Generate drive for
Entrepreneurship and
Develop Long-Term
Sound Financial
Behaviour
Strong
recommendation for
Financial Education
Policies Coupled with
Drive for Youth
Entrepreneurship
Complement Policies
with direct
involvement of Young
Generation
1
2
34
5
Stimulate Job Creation
and Drive Economic
Growth within the
Vulnerable Youth Sector

8. www.childfinanceinternational.org
ChildFinance ChildFinance
www.childfinanceinternational.org
Titelstijl van model bewerken
Rene Cuartero
Regional Advisor for Asia and the Pacific
rene@childfinance.org
+31 20 520 3900 | @LetsGoRene
Thank You!