Since 2010, UNCDF has been actively working to increase youth financial inclusion by supporting the development of affordable, relevant and accessible financial products for youth coupled with complementary non-financial services in LDCs. UNCDF tested its approach by launching YouthStart Pilot Programme, which more than tripled the original target of providing A2F to 200,000 youth. UNCDF is now expanding this approach to LDC’s in Africa and Asia with the objective to increase the number of youth (in particular young woman, youth living in rural areas and out-of-school) engaged in entrepreneurship, decent employment, school, or further education and training.

UNCDF will provide integrated financial (e.g. savings, loans, insurance, payments, etc.) and non-financial services (e.g. financial education on savings or debt management) to at least 800,000 youth in LDCs, to either secure decent work or start/expand their own business. It will do this through the implementation of the following 4 strategies: 1. Improve coordinated action of youth serving organizations, NGOs working with youth and for youth, and FSPs to design and deliver financial and non-financial products and services for youth in ways that complement each other; 2. Promote a bundle of services that will impact youth in a direct and indirect manner; 3. Promote a bundle of services that motivate youth to seize economic opportunities in sectors with the greatest potential (e.g. agriculture, house hold enterprises, digital jobs); 4. Partner with others to improve policies and regulations to facilitate youth transitions to economic independence. In parallel, UNCDF is also piloting alternative and innovative approaches with governments and local partners that could be crucial to promote youth employment and inclusion in LDCs.

United Nations Capital Development Fund (UNCDF)