The Financial Inclusion Steering Committee (FISC) has boldly launched the Youth Financial Inclusion (YFI) Initiative on 20 January 2025. This ambitious effort aims to drastically increase youth account ownership and forge a financially empowered generation of Filipinos.
In alignment with the National Strategy for Financial Inclusion (NSFI) 2022-2028, the YFI Initiative focuses on the youth, recognizing their unparalleled potential to drive financial inclusion, innovation, and economic prosperity.
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat emphasized the transformative impact of the program: “The YFI Initiative is a call to action for the Filipino youth to innovate and aspire, not just for personal growth, but for the nation’s future.”
The initiative’s two cornerstone programs are:
YFI Ambassadors Program: Empowering participants to develop actionable plans that champion financial inclusion and enhance financial health within their communities.
YFI Hackathon: A competitive platform to generate groundbreaking, community-centric solutions to financial inclusion challenges. Winning ideas stand a chance to be implemented.
Both programs will culminate in the highly anticipated Youth Congress in the second quarter of 2025.
The initiative has garnered robust support from key government agencies such as the National Youth Commission (NYC) and the Presidential Communications Office (PCO). NYC Chairperson Jeff Ortega highlighted the initiative’s transformative potential: “The YFI Initiative equips young Filipinos with crucial financial knowledge and skills, enabling them to transform their lives and significantly contribute to nation-building.”
Krizia Casey Avejar, Chief of the Communications and Capacity Development Division of the PCO, echoed this sentiment: “Together, we can inspire a generation of financially savvy and resilient Filipinos.”
Beyond merely boosting account ownership, the YFI Initiative advocates for comprehensive financial education, consumer protection, and regulatory support for youth financial inclusion. It also promotes synergistic collaboration among financial regulators, service providers, youth groups, students, educators, and other stakeholders to reinforce the advocacy for financial inclusion.
By empowering the Filipino youth, this initiative aspires to cultivate financial resilience, enhance financial health, and foster their pivotal role in propelling the nation’s economic growth.
