WASHINGTON, DC (February 6) – The Microcredit Summit Campaign celebrates Global Money Week 2014 together with Child and Youth Finance International. The Campaign invites its members to join in the celebration and raise maximum awareness for child and youth financial empowerment and inclusion. Global Money Week 2014 will take place from March 10th to 17th and is expected to surpass the celebrations in 2013 in which 400+ organizations from 80 countries reached more than 1 million children and youth.
Past events have included children ringing the opening bells of stock exchanges, visits to central banks and MFIs, and financial education program in schools. Children have been given opportunities to connect with other children from across the world through web conferences, sharing their likenesses and differences in regards to money behaviors.
Global Money Week 2014 is a global celebration that incorporates countries from every continent in order to raise awareness of the importance of financial education and financial inclusion for children and youth. Global Money Week 2014 is coordinated and led by Child and Youth Finance International (CYFI), a non-profit organization based in Amsterdam and a partner of the Microcredit Summit Campaign. This global movement strives to provide financial education and financial inclusion to all children and youth and has already gathered the support of some of the most prominent leaders and organizations across the world, including the United Nations Secretary-General, Ban Ki-moon.
These international celebrations are carried out to promote the importance of financial rights—especially for children and youth. Today, one billion children live in poverty and less than 1% of all children in the world have access to a combination of financial education and financial inclusion.
Many young people struggle with large amounts of debt, thus resulting in negative repercussions on their development and well-being. With financial access and financial education, children and youth can learn to save and spend money responsibly.
Microfinance is uniquely placed to reach millions of children and youth, providing responsible savings products and programs, as well as non-financial services that teach essential money, life, and livelihoods skills.
Larry Reed, director of the Microcredit Summit Campaign, will participate in a shared webinar with CYFI during Global Money Week 2014 to discuss ways in which microfinance can work—is in fact already working—to be more inclusive to children and youth. The Campaign and CYFI will highlight their mutual commitments to the economic empowerment of children and youth through financial education and inclusion, and to lifting households across the globe out of extreme poverty.
Global Money Week is an excellent opportunity for microfinance institutions and local organizations in every country to organize activities for children and youth around saving and responsible spending, and engage clients, staff, and the wider community to create awareness. Follow Global Money Week on Twitter @GlobalMoneyWeek and use the keywords, #GMW2014 and #GlobalMoneyWeek.