Child & Youth Finance International (CYFI) leads the Child and Youth Finance Movement's worldwide multi-sectoral network, which is dedicated to enhancing the financial capabilities of children and young people. This involves giving all young people the knowledge to make wise financial decisions, the opportunity to accumulate savings, and the skills to find employment, start a business and ultimately break the cycle of poverty.
Based in Amsterdam but operating globally, CYFI have taken on the challenge of reshaping financial systems and making sure everyone works together to help children become economically empowered citizens.
This year has seen the expansion of CYFI projects and working groups around economic citizenship across all world regions; funding of £175,000 from the players of the People's Postcode Lottery has supported the continued growth of the Child and Youth Finance Movement.
CYFI's Chief Operating Officer Bram van Eijk said, "With this donation, CYFI will be able to expand our reach with Global Money Week and advisory work with our partners to further economic citizenship in all countries within which we operate."
Some highlights from CYFI's core projects include:
- Global Money Week - This year was the 5th anniversary of the annual money awareness celebrations and the Week was bigger than ever before! Over 7 million children took part in Global Money Week activities and events across 132 countries to learn about the importance of saving for the future.
- SchoolBank - CYFI's most recent initiative, SchoolBank, focuses on combining economic citizenship education and financial literacy for young people, by working with schools, banks and communities to provide access to quality banking services alongside financial education lessons. Having successfully completed the first pilot project in India, more SchoolBanks are being rolled out and scaled up worldwide.
- Ye! - The fastest-growing online platform for young entrepreneurs, Ye! community has gone from strength to strength. Now with over 5,000 community members, the platform provides advice, resources and software for budding business owners. Ye! has had great success with several pitching events and a Boost Camp training session, to provide young entrepreneurs with funding opportunities and help to find their feet in the enterprise world.
So far, 2016 has been a busy year for CYFI and its global network. As the Child and Youth Finance Movement moves in to the next phase of its strategy for systems change, the organization will continue to extend the scope of its work to achieve the economic empowerment of youth worldwide.