The government has set aside Sh22.891 billion, targeting young people across the country.
Treasury CS Ukur Yatani on Thursday said the amount will cater for youth empowerment programmes.
He said some Sh10.2 billion will be allocated to the National Youth Service which will cater for the slum upgrade projects despite financing the NYS daily activities.
Yatani said Sh2.1 billion will cater for youth empowerment projects under the Youth Fund, while Sh359 million being accessed through the Youth Enterprise Fund.
According to Yatani, some Sh82 million will be accessed through the Uwezo fund while Sh150 million being accessed through the Women Enterprise Fund.
Yatani said this in addition to the Sh10 billion put in place to cushion unemployed youth during this COVID-19 pandemic.
Under the economic stimulus programme, Yatani said the government was targeted to temporally engage 200,000 youth under the 'Kazi Mtaani' project.
He said this will go a long way in ensuring the vulnerable youth who have lost jobs due to the pandemic can put food on the table.
"Currently we have engaged 26,000 youth in the pilot programme as we seek to officially roll out the project," he said.
The programme was launched by the President on April 25, targeting youths in slums from the eight counties.
The programme was first rolled out in 28 slums in Kiambu, Nairobi, Mombasa, Kwale, Nakuru, Mandera, Kilifi and Kisumu.
The country has a huge number of youths who are unemployed and the number has increased after the coronavirus hit the nation.
Many industries were forced to reduce their workers and others were closed.
The CS added that the country's economy is projected to grow at 2.5 per cent.
This is due to invasion of desert locusts and flooding as well as the Covid-19 pandemic.
"Mr. Speaker it is evident that most aspects of our lives have been disrupted with the realities of the pandemic, it is from this point that we target these youth with an aim of stimulating the economy while safeguarding livelihoods," he said.
He said the pandemic has resulted in a slow economic activities while increasing the public expenditure across all sectors.
We are hopeful that the rapid economic stimulus we have out in place will address some of the high poverty levels and unemployment among the youth," Yatani said.
