With the regulation published in the Official Gazette with the signature of AKP President Recep Tayyip Erdoğan, the working procedures and principles of the Family and Youth Fund, the resources of the fund and the issues regarding resource transfers from the fund were determined.
The Fund, established under the Ministry of Treasury and Finance, aims to strengthen the family institution, protect young people against social risks and support their development and initiatives.
The Family and Youth Fund Board of Directors will consist of five people, chaired by the Deputy Minister of Treasury and Finance, Deputy Minister of Family and Social Services, Deputy Minister of Youth and Sports, Deputy Minister of Energy and Natural Resources and Deputy Minister of Industry and Technology.
The Board of Directors, which will be authorized to determine the projects to which resources will be transferred from the fund, the amount of resources to be transferred, and the expenditure programs, will exercise other powers granted by the relevant legislation.
The resources of the fund are 20 percent of the State share collected within the scope of the Turkish Petroleum Law, 20 percent of the State right collected within the scope of the Mining Law, amounts to be transferred up to 10 percent by the decision of the President from the revenues of the funds established and to be established by laws and decrees, repayments. It consists of the amounts consisting of repayments within the scope of the foreseen projects and all kinds of cash donations, aid and grants from domestic and foreign sources.
Financial data regarding fund sources and transfers will be shared with the public in six-month periods.
EARTHQUAKE ZONE WILL BE PRIORITY
Minister of Family and Social Services Mahinur Özdemir Göktaş announced the application conditions for the Family and Youth Fund.
Stating that applications will start on February 15, Göktaş announced that they determined the earthquake region as the pilot region.
The project, which aims to support young people’s marriage dreams and other projects, will spread throughout Turkey in the future.
With the economic support part of the program, 150 thousand lira loan support will be offered to those whose applications are approved, with a total maturity of 48 months and a grace period of 2 years.