Access to integrated financial and non-financial services to initiate and scale-up action for youth employment.

#SDGAction42200

Description

Since 2010, UNCDF has been actively working to increase youth financial inclusion by supporting the development of affordable, relevant and accessible financial products for youth coupled with complementary non-financial services in LDCs. UNCDF tested its approach by launching YouthStart Pilot Programme, which more than tripled the original target of providing A2F to 200,000 youth. UNCDF is now expanding this approach to LDC’s in Africa and Asia with the objective to increase the number of youth (in particular young woman, youth living in rural areas and out-of-school) engaged in entrepreneurship, decent employment, school, or further education and training.

Implementation of the Project/Activity

UNCDF will provide integrated financial (e.g. savings, loans, insurance, payments, etc.) and non-financial services (e.g. financial education on savings or debt management) to at least 800,000 youth in LDCs, to either secure decent work or start/expand their own business. It will do this through the implementation of the following 4 strategies: 1. Improve coordinated action of youth serving organizations, NGOs working with youth and for youth, and FSPs to design and deliver financial and non-financial products and services for youth in ways that complement each other; 2. Promote a bundle of services that will impact youth in a direct and indirect manner; 3. Promote a bundle of services that motivate youth to seize economic opportunities in sectors with the greatest potential (e.g. agriculture, house hold enterprises, digital jobs); 4. Partner with others to improve policies and regulations to facilitate youth transitions to economic independence. In parallel, UNCDF is also piloting alternative and innovative approaches with governments and local partners that could be crucial to promote youth employment and inclusion in LDCs.

Partners

United Nations Capital Development Fund (UNCDF)

SDGS & Targets

Goal 8

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

8.1

Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries

8.1.1

Annual growth rate of real GDP per capita

8.2

Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

8.2.1

Annual growth rate of real GDP per employed person

8.3

Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

8.3.1

Proportion of informal employment in total employment, by sector and sex

8.4

Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the lead

8.4.1

Material footprint, material footprint per capita, and material footprint per GDP

8.4.2

Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP

8.5

By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value

8.5.1

Average hourly earnings of female and male employees, by occupation, age and persons with disabilities

8.5.2

Unemployment rate, by sex, age and persons with disabilities

8.6

By 2020, substantially reduce the proportion of youth not in employment, education or training

8.6.1

Proportion of youth (aged 15-24 years) not in education, employment or training

8.7

Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms

8.7.1

Proportion and number of children aged 5‑17 years engaged in child labour, by sex and age

8.8

Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

8.8.1

Fatal and non-fatal occupational injuries per 100,000 workers, by sex and migrant status

8.8.2

Level of national compliance with labour rights (freedom of association and collective bargaining) based on International Labour Organization (ILO) textual sources and national legislation, by sex and migrant status

8.9

By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products

8.9.1

Tourism direct GDP as a proportion of total GDP and in growth rate

8.10

Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

8.10.1

(a) Number of commercial bank branches per 100,000 adults and (b) number of automated teller machines (ATMs) per 100,000 adults

8.10.2

Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

8.a

Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries

8.a.1

Aid for Trade commitments and disbursements

8.b

By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization

8.b.1

Existence of a developed and operationalized national strategy for youth employment, as a distinct strategy or as part of a national employment strategy

SDG 14 targets covered