World Vision and HSBC to support financial literacy of youth

World Vision and HSBC have come together to provide trainings on financial literacy to increasing the financial capability and employability of economically vulnerable youth and women in North Western, Central, Eastern and Northern Provinces. The first set of trainings held in Mundalama, Walapane, Koralaipattu and Chaavakachcheri saw the participation of 200 people including unemployed youth and women.

The training focuses on increasing their knowledge in reading and understanding financial statements, interest rate calculations, loans and savings and completing basic banking activities. In addition the training guides the participants through leadership and communication skills, understanding the concept of career development and inculcating a growth mindset through methods of positive thinking while helping them explore opportunities available to them.

“This programme helped me understand the various job opportunities available and career paths options,” says Unista from Chavakachcheri, “I also gained knowledge on the importance of planning, time management and other useful aspects.”

“I realized that I have a lot to achieve in life. This programme taught me about setting goals and achieving them as well as overcoming challenges and obstacles in the process. We were encouraged to have a dream in life and this programme was an eye opener for me,” says Priya who attended the programme in Chavakachcheri.

“Through this training program, I learnt the process of a business, its inception and successful progress. I learnt to identify career opportunities, equip myself to be a potential candidate and ensure a successful career”, says Anushika Gimhani from Walapane

T.M Chathurika Lakshani from Walapane says, “This program thought me what leadership is, the qualities of a leader and how to identifying opportunities to step up as a leader. Leaders are needed everywhere, and I hope to develop my leadership skills in being successful in the future”.

Through the project activities, the participants will gain the skills, tools, coaching and experience to be more successful in gaining employment, becoming self-employed or starting income-generation activities, while managing their finances more efficiently.

“Beneficiaries within these target groups are either unemployed or with limited employment prospects, and have poor or no financial literacy skills, leaving them at risk of being trapped in the cycle of poverty, mismanaging their finances, falling prey to predatory lending, or getting into unserviceable debt,” said Dr. Dhanan senathirajah, National Director of World Vision Lanka. “Financial literacy is an important tool for sustainable success especially for the youth to enhance their expertise in any chosen vocation. We are glad that we are able to provide this tool for the most vulnerable through our partnership with HSBC.”

“Statistics show that youth and women in Sri Lanka are at a disadvantage when it comes to employability due to skills mismatch. There’s a huge potential that’s waiting to be tapped into within these groups, if only we could give them the right skills set they require. Being equipped with critical skills and being aware of our employment choices empowers communities and enables active participation in our economy. This project with World Vision is a manifestation of HSBC’s belief in the importance of education for the development and continued prosperity of any country,” commented Mark Prothero, CEO HSBC Sri Lanka and Maldives.

The three-year Project will serve 1,500 identified beneficiaries. The selection of the areas has been made following World Vision Lanka’s all-island assessment which was based on key development needs relating to unemployment, livelihood and economic development.