PRESS RELEASE

 

JOINT PRESS RELEASE FROM THE NATIONAL BANK OF CAMBODIA AND GOOD RETURN AUSTRALIA ON
THE LAUNCH OF THE LET’S TALK MONEY CAMPAIGN

New Campaign to Promote Consumer Empowerment in Cambodia

Phnom Penh, Cambodia, March 16, 2016—Yesterday, the National Bank of Cambodia in partnership with Good Return Australia officially launched the “Let’s Talk Money” campaign. The purpose of the campaign is to activate financial behavior change and to strengthen economic empowerment in low-income households and vulnerable communities.

The Campaign’s primary target is young people between the ages of 15-30 in urban and rural communities across Cambodia. As consumer credit and digital financial products become more accessible in Cambodia, there is increasing risk that Cambodia’s youth (who represent newer and less experienced consumers) and the very poor (who are more vulnerable to economic shocks) can be harmed through becoming over-indebted, choosing the wrong financial services and products, and falling victim to scams and predatory lending from the informal lending sector.

The campaign will run for 12 weeks and is built upon four themes: Choose, Use, Negotiate, and Communicate and will be accompanied by educational messages and a ‘Call to Action’. The “Call to Action”, seeks to engage young people to talk money with their family and friends. H.E. Neav Chanthana, Deputy Governor of the NBC officially launched the Campaign at the National Microfinance Summit. Speaking yesterday at the Summit, H.E. Chanthana stated, “Our hope is that with the knowledge we are providing, young people will be more empowered to make smarter money decisions in the future. We hope this important campaign will be a stepping-stone to building a strong foundation for financial literacy and consumer empowerment in Cambodia.”

These messages have been produced in various formats and will be delivered via online, SMS, print and media. One of which is an exciting series of six Public Service Announcements the NBC produced in partnership with Good Return. “We are pleased to be working with the NBC and supporting its efforts to get Cambodian youth talking about money, so that they and their families are able to effectively choose, use and benefit from financial services” said Good Return CEO Mr Guy Winship.

The development of the Talk Money campaign was supported by World Education Cambodia, the English Family Foundation, and the Development Innovations initiative of USAID. The Campaign has also partnered with SMART, the Official Telecom Partner, to help spread these messages to young people.

For More Information About the Campaign Visit:

Website: http://talkmoney.info
Facebook: http://www.facebook.com/talkmoneyinfo