USAID, CEFI Partner in Financial Literacy

The United States Agency for International Development (USAID), through its Lukautim Graun Program (LGP), partners with the Center of Excellence for Financial Inclusion (CEFI) to deliver financial literacy training to rural and remote communities in six provinces.

On April 22, USAID’s LGP and CEFI partnered to train twenty-one participants as new financial literacy trainers in a five-day financial literacy train-the-trainer program in Goroka, in the Eastern Highlands Province.

USAID partners with CEFI to train trainers in the basics of teaching members of rural and remote communities online savings, budgeting, and digital finance.

Learning these skills is the foundation for starting new businesses and increasing the financial security of households and individuals, especially women.

USAID’s LGP has also delivered similar training in Jiwaka and will soon launch financial literacy training in Madang, Milne Bay, Morobe and Simbu provinces with approximately 150 graduate trainers in all provinces.

In return for the training, each trainer agrees to train at least 50 other people in their respective provinces and communities, resulting in approximately 7,500 people in the six provinces with new skills in personal and family financial literacy.

Financial literacy training participants have the opportunity to access banking services and the possibility to open bank accounts after the end of each training session in cooperation with MiBank. MiBank, USAID and the US International Development Finance Corporation recently signed a new loan guarantee program agreement specifically targeting women and men in rural and remote areas.

Women’s groups, women leaders, small and medium enterprises, faith-based organizations and community-based conservation organizations will now receive training and be able to register as banking agents to facilitate access to new digital financial services via mobile phones.

Bethel Benson, Assistant Marketing Coordinator for Mama Bank, a national microfinance bank focused on supporting women, said: “I think this training has made me a better trainer and the training manuals provide a simple understanding of how it works. saving and budgeting.

“With this material, I can easily teach people in my communities and through my work. I plan to teach members of my women’s group, my local church group, Mama Bank customers and co-workers.