The availability of savings products for young people, especially in the developing world, remains extremely limited despite demand for safe and regulated institutions, a large potential market, and growing evidence about the potential of savings to benefit youth. Youth Savings Accounts (YSAs), similar to Child Development Accounts and Individual Development Accounts, have been proposed as a policy intervention to increase savings opportunities and related human development opportunities for low-income youth.
With the support of the MasterCard Foundation, a global consortium will explore the development of a pilot YSA program in multiple developing countries. The consortium includes the Global Assets Project–a joint venture of CSD and the New America Foundation–in addition to Save the Children and the Consultative Group to Assist the Poor (CGAP). CSD’s role in the project will be to conduct research design and development for the pilot program.