Prudence Foundation signs MOU with ChildFund in Laos to increase financial literacy in Laos
Vientiane, Laos, 26 October 2022
Prudence Foundation, the community investment arm of Prudential plc in Asia and Africa, together with ChildFund in Laos today signed a Memorandum of Understanding (MoU) with The National Commission for Advancement of Women, Mother, and Children (NCAWMC).
Under the MOU, Prudence Foundation will fully fund its financial literacy and life skills programmes for children - Cha-Ching and SAFE STEPS Kids - under the Child Life Skills Empowerment Project. These programmes will be implemented in 100 schools in Vientiane Capital, Houaphanh and Xiengkhouang provinces until the end of 2024.
Nicole Ngeow, Director, Prudence Foundation, said, “At Prudence Foundation, we aim to build community resilience through long-term initiatives focused on education, health and safety. Money affects everyone in the world. And children are often more vulnerable in emergencies or disastrous situations. Through the Cha-Ching and SAFE STEPS Kids programmes, we aim to empower children in Laos with key financial education and life skills they need to respond to challenges, risks and opportunities in the future.”
Vilasai Thammavong, Acting Country Director, ChildFund in Laos, said “ChildFund in Laos is delighted to continue the partnership with Lao government partners from national to local level. With the financial and technical support from the Prudence Foundation, we are able to expand our work on child and youth empowerment and life skills development which include financial literacy “Cha Ching” and SAFE Steps Kids.
“These two programmes will be implemented by ChildFund in Laos partnership with our key government partners from national to local level including the National Commission for the Advancement of Women, Mother, and Children and Ministry of Education and Sports in 100 targeted schools include 60 schools in Vientiane Capital, 20 schools in Huaphanh, and 20 schools in XiengKhouang Provinces. The implementation of the programmes will effectively start from now until late December 2024. We are exciting to work with all stakeholders including teachers, children and youth to scale up this work in Laos to reach at least 20,000 more children in this project,” said Mr. Thammavong.
Cha-Ching was developed by Prudence Foundation in partnership with Cartoon Network Asia and Emmy Award-winning children’s educational specialist, Dr. Alice Wilder, to equip children between the ages 7 to 12 with the knowledge, tools and money-smart skills to prepare them to reach their future goals. Using a blended educational approach, the main objective of this award-winning financial literacy programme, is to leverage a series of cartoons together with a purpose-built curriculum that equips teachers with an engaging programme covering four key money management concepts: Earn, Save, Spend, and Donate. To date, over 23,000 teachers have been trained and have successfully delivered the Cha-Ching Curriculum to over 870,000 primary school students across Asia and Africa.
SAFE STEPS Kids is a multi-platform public-service programme created by Prudence Foundation, in partnership with International Federation of Red Cross and Red Crescent Societies (IFRC) and Cartoon Network. This programme leverages well-known Cartoon Network characters to raise awareness and provide life-saving information to children using multiple platforms including on-air cartoon videos, infographics, an informative website, and print material that can be shared through community-based activities and partnerships. Core to the programme is a series of 50 seconds public service announcement (PSA) educational videos produced jointly by Prudence Foundation and Cartoon Network, with all messages approved by IFRC.
About Prudential plc
Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa. The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has more than 19 million life customers and has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is also a constituent of the Hang Seng Composite Index.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom. https://www.prudentialplc.com/
About Prudence Foundation
Prudence Foundation is the community investment arm of Prudential plc. Its mission is to secure the future of Asian and African communities by enhancing education, health and safety. The Foundation runs regional and local programmes in partnership with NGOs, governments and the private sector to maximise the impact of its efforts. Leveraging Prudential's long-term mindset and geographical scale, the Foundation seeks to make communities safer, more secure and more resilient.
https://www.prudencefoundation.com
About ChildFund in Laos
ChildFund in Laos is the representative office of ChildFund Australia – an independent international development organisation that works to reduce poverty for children in developing communities.
ChildFund began working in Laos in 2010 and works in partnership to create community and systems change which enables vulnerable children and young people, in all their diversity, to assert and realise their rights. Projects are implemented in the capital of Vientiane, as well as Huaphanh and Xiengkhouang Provinces, some of the country’s poorest regions with significantly high unexploded ordnance contamination.
With a focus on upholding child rights and improving access to quality education, ChildFund in Laos also prioritises projects which focus on child nutrition, sexual reproductive health and rights, media literacy and job readiness.