Interest-free marriage loan enters into force

The Family and Youth Fund, which entered into force after being published in the Official Gazette, aims to support and strengthen the institution of the family, protect young people against social risks, and create resources to support their development and initiatives.

The board of directors of the fund will consist of a total of 5 people, chaired by the Deputy Minister of Treasury and Finance, and including the Deputy Minister of Family and Social Services, the Deputy Minister of Youth and Sports, the Deputy Minister of Energy and Natural Resources, and the Deputy Minister of Industry and Technology.

Board decisions will be taken by majority vote. The deputy ministers will be appointed by their respective ministers. The board of directors, which will manage the fund, will be authorized to determine the projects to which resources will be transferred from the fund, the amount of resources to be transferred, and expenditure programs.

WHAT ARE THE APPLICATION REQUIREMENTS?

Within the scope of the law, it is envisaged that an interest-free loan of 150 thousand liras will be provided to young people who are getting married. The loan will be provided with a 2-year grace period and a 4-year repayment term.

The loan amount of the fund, for which applications will be made online, will increase every year.

The program, which will start in the provinces affected by the February 6 earthquakes as a pilot region, will subsequently be expanded across Turkey.

Minister of Family and Social Services Mahinur Özdemir Göktaş shared the following message on her social media account: "The Law on the Establishment of the Family and Youth Fund has been published in the Official Gazette and has entered into force. We will continue to strengthen the institution of the family and support our youth with every step we take. Best wishes."

News Source: 12punto