Youth can now get more help for their initiatives to champion ground up causes. An additional $72 million will be pumped into the existing National Youth Endowment Fund, bringing the total amount to $100 million.
And instead of keeping it as an endowment fund - which means that only a small investment income can be utilised annually - a new National Youth Fund will be created.
The fund will be drawn over the next 20 years to support youth activities, which means an annual of budget of about $5million - eight times more than the current annual funding.
This was announced by Acting Minister for Ministry of Culture, Community and Youth Lawrence Wong in Parliament on Friday. Youth sector organisations and social enterprises, schools and tertiary institutions may apply for this fund.