Children and young people around the world have moved a step closer to achieving their dreams as it has been announced that players of People's Postcode Lottery will award Child & Youth Finance International (CYFI) £100,000. This funding will help to empower young people through financial inclusion.
Of the 2.2 billion children in the world less than 1% has access to any form of financial education, often exposing them to potential exploitation. Players of People's Postcode Lottery and CYFI share the belief that financial inclusion and education are critical for promoting the economic and social livelihood of children and youth around the globe.
This core funding from our players will help the Child and Youth Finance Movement to progress. Players' support will contribute to ensuring access to quality financial services and financial education for 100 million youngsters by 2015. It will allow CYFI to help children and young people save money, stay in school, gain and retain employment and ultimately achieve their dreams.
Clara Govier, Head of Charities at People's Postcode Lottery, said, "We are absolutely delighted that our players are able to support Child & Youth Finance International. I am thrilled that an organisation that is so focused on providing financial education to children can be helped through our players' support."
Jeroo Billimoria, Managing Director of CYFI, added, "I am so excited and grateful to players of People's Postcode Lottery for their amazing support. It feels like I have just won the lottery myself! It's completely unexpected and so kind. The players can be proud to know that their money is going towards increasing the financial literacy and economic independence of our youth. With this money we will help our children and youth take ownership of their dreams."
The announcement comes in the middle of Global Money Week, the world's largest financial education awareness event. This annual event, coordinated globally by Child & Youth Finance International, will involve thousands of young people in the UK in financial education and money awareness activities. Internationally, the organisers aim to reach three million young people in 100 countries worldwide.
Apart from raising general awareness about the specific needs of children and youth, CYFI will advance financial inclusion and education of young people through its network of partners and stakeholders.