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Turkiye launches new ‘Family and Youth Fund’ to boost welfare

The regulation regarding Türkiye’s newly established fund aimed at supporting a stable family structure, safeguarding young people against social risks, and supporting their development and initiatives was published in the country’s Official Gazette on Sunday.

The decision regarding the regulation of the “Family and Youth Fund,” was published under decision no. 8166, signed by President Recep Tayyip Erdoğan.

The regulation postulates the main framework of the fund, set to be established under the Treasury and Finance Ministry along with financial regulations and supervision details.

The fund will be overlooked by a board of directors, that will consist of five members with the deputy Treasury and Finance minister holding the chair position. Other members include deputy ministers of the Ministries of Family and Social Services, Youth and Sports, Energy and Natural Resources, and Industry and Technology.

Some 20% of the state share collected under the Turkish Petroleum Law would be transferred to the fund along with 20% of income collected within the scope of the Mining Law.The incomes of up to 10% from the funds established and to be established by laws and decrees by presidential decisions are also to be transferred to the fund, and the fund is also set to include repayments within the scope of envisaged projects, and all kinds of cash donations, aid and grants from domestic and foreign sources.

Financial data regarding fund sources and transfers are meanwhile set to be shared with the public every six months.

Family and Social Services Minister Mahinur Özdemir Göktaş earlier announced the commencement of applications for the Family and Youth Fund starting Feb. 15, highlighting the earthquake-hit region would serve as a pilot place for the project.

This initiative, initially targeting affected areas, requires participants to engage in pre- and post-marriage training and consultancy services provided by the ministry to qualify, Göktaş noted.

During her visit to Doha, at a recent forum, the minister met with Turkish soldiers and discussed regional stability, security, and the Türkiye-Qatar relationship. She emphasized the importance of empowering young people, particularly in the context of marriage and family planning.

“We have determined the earthquake region as the pilot region in the Family and Youth Fund, which was created in line with our president’s vision. We have specifically eased the conditions for the earthquake region, keeping them different. We aimed to support both the marriage dreams and different projects of our young people,” Göktaş said.

The minister said they aimed on offering interest-free loans of TL 150,000 ($4,890) to young individuals starting a family, with a two-year grace period and a four-year repayment plan.

“With this support, our young people will also be able to implement their own projects. In the future, we will expand the program throughout Türkiye to include all our young people,” she noted.

“We will carry out the process in proportion to the resources accumulated in the fund,” she added.

Providing information that applications would take place through the ministry’s aile.gov.tr website, Göktaş noted that all other regulations regarding the fund would be shared soon.

To promote sustainable family structures, the ministry had earlier introduced several programs, such as the Family Education Program, Pre-Marriage Education Programs, and family counseling services. By fostering open dialogue and providing essential resources, these initiatives aim to strengthen family bonds and ensure a prosperous future for Türkiye’s youth.

“Our work to protect and strengthen the family continues at full speed,” she concluded.

Source: dailysabah

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