Economic Growth and Innovation at the Forefront of New Program
The interagency Financial Inclusion Steering Committee (FISC) has launched the Youth Financial Inclusion (YFI) Initiative, aiming to foster greater financial literacy and account ownership among the Filipino youth. The program, aligned with the National Strategy for Financial Inclusion (NSFI) 2022-2028, recognizes the potential of young people to drive economic growth and innovation, marking a pivotal step in strengthening the country’s financial landscape.
BSP deputy governor Bernadette Romulo-Puyat emphasized the importance of the initiative, which invites Filipino youth to play a key role in advancing financial inclusion, noting its potential to not only empower individuals but also support broader national economic development.
The YFI has two main components: the YFI Ambassadors Program, which will encourage youth-led efforts to promote financial inclusion within their communities, and the YFI Hackathon, a competition designed to develop innovative solutions to financial inclusion challenges. Both programs will culminate in a Youth Congress later in 2025, showcasing the top ideas.
Government agencies such as the National Youth Commission (NYC) and Presidential Communications Office (PCO) have shown strong support for the initiative. NYC Chairperson Jeff Ortega highlighted the program’s potential to equip young Filipinos with essential financial skills, while PCO’s Krizia Casey Avejar called for collaborative efforts to inspire a financially resilient generation.
Beyond boosting account ownership, the initiative will focus on enhancing financial education, consumer protection, and regulatory support for youth, ultimately aiming to increase financial resilience and foster a more inclusive economic future for the Philippines.
