MEDA's YouthInvest project reached 50,000 youth in Morocco and Egypt with savings, training and loans over the course of the project. YouthInvest worked on three levels: supporting youth with financial and non-financial services; developing the capacity of partner organizations to provide appropriate financial products and training services; and sharing best practices with the financial services industry.
Youth-appropriate loans and savings accounts were developed in cooperation with MFI and banking partners and marketed to youth. The project built demand for these products with financial education and entrepreneurship training for youth. The team is also collected data on the results of the program to encourage financial institutions to loan to youth.
Project Quick Facts
Goal: To develop and improve tools to support increasing numbers of youth, through provision of financial and non-financial services to young people. 'YouthInvest: Financial and Non-Financial Innovations for Youth' will connect young people with innovative financial products and services that will build their economic prosperity; improve their working lives and lead to a better quality of life, for their families and themselves.
Reached: 50,000 youth clients
Funding: The MasterCard Foundation
Project length: 2008-2014
YouthInvest is featured in a new publication, European Dialogue - Youth Financial Inclusion: Promising Examples for Achieving Youth Economic Empowerment, from the European Microfinance Platform. MEDA's work with youth and finacial services in Egypt and Morocco is highlighted on pages 88-99 of the report.