According to the Decree, a State Trust Fund for the Development of Youth Entrepreneurship will be established under the Agency for Youth Affairs on the basis of the Foundation for the Support of Young Entrepreneurs.
The Fund's funds will be raised to the equivalent of 100 million US dollars from certain sources.
Providing employment and attracting at least 50,000 youth representatives to entrepreneurship with the assistance of the Foundation is a key indicator of the effectiveness of its activities.
Land plots for the placement of business projects for the organization of facilities for the provision of services, entertainment and recreation facilities on river embankments, canals, will be allocated through electronic online auctions in accordance with the established procedure.
The Fund will establish a Venture Fund with a charter fund of the equivalent of 10 million US dollars, which will finance promising startup projects of young people using funds allocated to the Fund by the Agency for Youth Affairs.
