The ICA-AP Committee on Youth Cooperation (ICYC) organized a webinar on Financial Literacy for Youth in Cooperatives: Empowering Youth from the Asia-Pacific region on 22 March. The webinar attracted around 30 participants from 10 countries in the Asia-Pacific region.

The webinar focused on budgeting, investing, maintenance of accounting records, and financial reporting. It aimed to equip young cooperative members with the knowledge and skills to effectively manage their finances and make informed decisions. ICYC invited two expert speakers, Ms. Caramel Rowena, Strategic Communication officer from MASS-SPECC, Philippines and Mr. Anurag Dhang, Secretary, NCUI Youth Committee.

Ms. Rowena introduced the concept of financial literacy and highlighted its importance for youth in cooperatives. She emphasized the need for effective budgeting and investing strategies to ensure financial stability and growth. Her presentation covered various topics, including creating a budget, setting financial goals, and developing investment plans.

Mr. Dhang stressed the importance of loans and interest in cooperative finance, explaining how cooperatives can leverage these financial instruments to achieve their goals. He also spoke about the significance of maintaining accurate accounting records and financial reporting to ensure transparency and accountability.

The webinar was well-received by the participants, who appreciated the valuable insights and practical advice shared by the speakers. They found the program to be informative and relevant and expressed their interest in attending similar events in the future. The Committee plans to continue its efforts to empower young cooperators with financial literacy skills, contributing to the growth and development of the cooperative movement in the Asia-Pacific region.