In 2012, MEDA, in partnership with the International Labour Organisation (ILO), received a grant to administer an impact evaluation (IE) of one of our youth employability interventions, 100 Hours to Success, a training program we developed on the YouthInvest project. Our donor, 3ie, conducts rigorous evaluations of initiatives across the development spectrum.
Savings has been lauded as one of the strongest levers of financial inclusion. Grounding itself in this scholarship, from the outset of the project, YouthInvest has made savings one of the pillars of its financial inclusion strategy in Morocco.
YouthInvest has encouraged youth to save by providing them with training on financial education as well as enabling them to access a low-minimum balance savings account made possible through a partnership with Al Barid Bank in Morocco. (The YouthInvest team managed to decrease the minimum deposit amount from 100 MAD to 5 MAD by negotiating with the banking institution).
While the savings component was incorporated into most aspects of YouthInvest's programming in Morocco, two particular initiatives made education on savings behaviour their tenants: