National and local organizers are estimating that 3 million or more young people worldwide will participate in events such as ringing the opening bells of stock exchanges, visits to central banks, and financial education program in schools. Youth will have the opportunity to learn about entrepreneurship and business through informative workshops, dialogues with leading entrepreneurs, and visits to local businesses. Youngsters will also have the chance to connect with other children around the world through “video café” interactive web conferences.
As a symbolic gesture in support of young people, many of the world's leading stock exchanges have invited youth to join them in market opening ceremonies scheduled throughout the week. “Ring the bell” ceremonies to open or close the day's trading and youth visits to exchanges will take place at more than 20 exchanges and bourses around the world.
Global Money Week brings together the efforts of many international and national events which focus on financial education, financial access, and entrepreneurship for youth. Global Money Week 2014 includes close collaborations with the “Week van het Geld” in the Netherlands, Learn Money Week, International Aflatoun Day, and nationally organized financial literacy initiatives.
Participating organizations include Central Banks, governmental authorities, NGOs, banking associations, financial institutions, corporations, schools, local businesses, and youth groups among others.
According to Jeroo Billimoria, Managing Director, Child & Youth Finance International:
'For young people who work to support themselves and their families, not having a bank account makes earnings inherently less secure, as well as making it practically impossible to save for the future. Even in middle and high-income countries, a lack of financial education can lead to debt and other financial difficulties later in life, with knock on effects for national and international economies. These issues affect all of us. Global Money Week is about empowering tomorrow's adults to provide the knowledge and skills to manage their own finances and realize their dreams.'
These international celebrations are carried out to promote the importance of financial rights, especially for children and youth. Today, less than 1% of all children in the world have access to financial education and financial inclusion. One billion children live in poverty. Financial illiteracy results in many young people struggling with large amounts of debt, resulting in negative repercussions on their development and well-being. With financial access and financial education children and youth can learn to save and spend money responsibly.
Global Money Week is a global financial literacy and entrepreneurship celebration. Countries from every continent are participating in order to raise awareness of the importance of financial education and financial inclusion for children and youth. Global Money Week is coordinated and led by Child and Youth Finance International (CYFI), a non-profit organization based in Amsterdam.
In 2012, 21 countries participated in Global Money Week, reaching 33,000 children. In 2013, the number of countries taking part rose by 281% to 80 countries, reaching over 1 million children. 403 organizations were involved in organizing Global Money Week events. For many of the participating countries, the Global Money Week provided a platform for multi-sectorial national stakeholders to collaborate- many for the first time – on developing financial education and inclusion initiatives and policies in their countries
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About Child and Youth Finance International
Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.
Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.