Youth Savings Patterns and Performance in Colombia, Ghana, Kenya and Nepal

2015

Supported by the Master Card Foundation, Youth Save was a consortium project of four organizations, Save the children, the Center for Social Development at Washington University in St Louis (CSD), the New America Foundation, and Consultative Group to Assist the Poor (CGAP). It is a multi-country learning project to encourage low income young people aged 12- 18 in selected developing countries to save through formal sources for their better future. The project was being implemented in Nepal, Colombia, Kenya and Ghana since 2010 and planned to continue up to 2014. Save the children International (SC), Bank of Kathmandu (BoK), New ERA and Local NGOs are involved in implementing the Youth Save program in Nepal. The basic objectives of the program are (i) Increase financial literacy among youth (age 12-18 years); (ii) Increase accessibility of financial institutions to them and (iii) Educate youth about savings and increase saving habit among them. New ERA was involved as a national Research Partner (RP) of the Center for Social Development at Washington University in St. Louis, USA in this initiative.