Youth Savings Accounts

The Youth Development and Financial Inclusion Nexus?

Of the 3 billion people today are under the age of twenty-five, half a billion live on less than $2 a day and less than 10% have access to financial services. Low income youth - one of the world's largest and most vulnerable populations - need new and effective tools to achieve social and economic development. This half-day forum – hosted by the YouthSave Consortium with the support of the MasterCard Foundation– explored whether savings accounts for low-income youth might be one such tool. YouthSave also released its new report, “Youth Savings in Developing Countries: Trends in Practice, Gaps in Knowledge,” at the event. This report presents the state of practice in the youth savings field, analyzing products, programs, policies and research, in more than 25 developing countries as well as laying out a number of important questions that need to be answered before the potential of YSAs can be fully understood or realized. The event, much like the report, discussed whether it is possible to design youth savings accounts that both meet the social and economic needs of the population and be offered and delivered in a commercially sustainable and scalable way.

The event also marked the official launch of the YouthSave Initiative, a landmark, global research program that will test how to sustainably deliver savings services to low-income youth in the developing world.

For a full written summary of the event, click here.

Agenda

12:30 - Welcome

Jamie Zimmerman
New America Foundation

12:45 to 1:15 - Lunch Keynote Address

Reeta Roy
President and CEO
The MasterCard Foundation

1:15 to 2:45 - Panel 1: Youth Development through Youth Savings Accounts

Featured Speaker
Michael Sherraden
Center for Social Development at The Washington University in St. Louis

Panelists
Gina Chowa
University of North Carolina - Chapel Hill

Carolina Trivelli
Institute of Peruvian Studies

Ernest Aryeetey
Brookings Institution

Moderator
Ray Boshara
New America Foundation

2:45 to 3:00 - Break

3:00 to 4:30 - Panel 2: Financial Inclusion through Youth Savings Accounts

Featured Speaker
Kate McKee
Consultative Group to Assist the Poor (CGAP)

Panelists
Madi Hirschland
Consultant

Chandula Abeywickrema
Hatton National Bank, Sri Lanka

Beatriz Marulanda
Banco de Los Oportunidades, Colombia

Moderator
Thierry van Bastelaer
Save the Children

4:30 to 5:00 - Concluding Remarks

Rani Deshpande
Save the Children

5:00 to 6:00 - Cocktail Reception

Event Time and Location

Thursday, May 6, 2010 - 12:30pm - 5:00pm
New America Foundation
1899 L Street NW Suite 400
Washington, DC 20036

Related Programs

Event Photos

Click here to view these photos.
A range of photos from this event are available on Flickr. Click on the icon at left to view or download the photos.

Video Clips

See video
Video - Panel 1
See video
Video - Panel 2 and Ending