This project involved an impact evaluation of an edutainment campaign implemented under the IFC Central Asia Financial Inclusion (CAFINC) program in the Kyrgyz Republic and the Republic of Tajikistan. The campaign was designed to address social norms and behavioral barriers that limit financial inclusion, particularly among women and youth. The initiative used a combination of edutainment interventions—including social media campaigns, a multi-episode TV series, and in-person “Money-Talk” events—to influence financial behaviors, attitudes, and beliefs. Key target areas included encouraging savings, reducing unproductive spending, and improving financial management and planning practices. The intervention also aimed to shift social norms related to financial decision-making and increase engagement with formal financial institutions. The evaluation assessed changes in personal beliefs, normative expectations, and financial practices across different demographic groups in both countries. It drew on longitudinal data collected at multiple points in time (baseline, midline and endline) and provided insights into the effectiveness of different edutainment approaches influencing financial behaviors. The findings informed lessons and recommendations for designing more effective financial inclusion programs and behavior change campaigns in focused on financial literacy

MSA led the evaluation design, implementation, and analysis of the IFC Central Asia Financial Inclusion (CAFINC) project, employing a rigorous randomized control trial (RCT) methodology to assess the impact of social and behavior change (SBC) communication campaigns on financial behaviors in Tajikistan and the Kyrgyz Republic. The study focused on how gender norms influence economic empowerment, particularly for women and girls, and examined the effectiveness of edutainment—TV series, social media campaigns, and in-person events—in shifting financial attitudes and behaviors. MSA gathered periodic data for 4800 participants across the two countries over a year and a half. There were two types of treatment groups developed, one which were provided with the edutainment campaigns, and another with edutainment campaign and follow-up encouragement messaging to consume edutainment materials. The control and treatment group analysis helped IFC identify whether a single campaign or consumption of multiple educational materials was more effective. It also helped the team evaluate the importance of reinforcement. The evaluation provided robust insights into how SBC communication strategies can drive economic empowerment among women and young boys and girls. The 4,800-respondent evaluation placed a strong emphasis on gender dynamics, exploring how prevailing social norms impact economic agency and behavior, particularly among women and youth. The findings helped IFC refine its strategy for promoting financial inclusion, offering evidence-based recommendations on leveraging SBC communication to address systemic gender barriers in financial decision-making