Ulaanbaatar /MONTSAME/ During its plenary session on May 18, Thursday, Parliament made the final reading of and adopted a Law on Youth Development, producing the country’s first law for the younger generation.
The newly adopted law legalizes the establishment of a ‘Fund for Youth Development’, affiliated with the Ministry of Labor and Social Protection. According to N.Nomtoibayar, Minister of Labor and Social Protection, money up to MNT 1 billion can be accumulated in the fund which can be spent for supporting young people financially.
During the drafting of the law, a survey was conducted engaging 27300 young people from across the country. The survey found that 45 percent of the participants has housing problems, and 27.3 percent identified employment as the number one issue whereas education is the most pressing issue for 18 percent of the participants.
Parliament Members appreciated the arrival of the first independent law to regulate the social role and responsibilities of young people, aged between 15-34 and who constitute 35.5 percent of the population. The Parliament voted up the adoption of the law by 76.1 percent.
Encompassing 7 articles and 24 clauses, the Law on Youth Development will take effect on January 1, 2018.