The project, also supported by Business in the Community, will see the supermarket chain invest in mobile facilities for young people.
Asda has already worked in partnership with Business in the Community to help renovate a double-decker bus in Burnley, which is now used six nights a week from Tuesday to Sunday as a place young people can gather.
An Asda spokesowman said: "The idea for the bus came from a survey of almost 1,000 kids in the Burnley area, carried out by Participation Works and funded through Burnley Council's Elevate funding.
"Young people surveyed said they wanted to have a place to chat with friends in a safe environment, somewhere they could feel ownership for and take part in."
The announcement is set to come as the government-backed Open Weekend gets under way on Friday, which aims to get youth services in England to run extra activities over weekends.
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