The boost includes a £7m Youth Accelerator Fund which is for expanding existing successful projects, creating extra youth club sessions and sporting opportunities.
The Department for Digital, Culture, Media and Sport (DCMS) said that young people will play a key role in funding allocation decisions by working directly with policymakers.
The #iwill Fund will receive the other £5m to enable 10- to 20-year-olds to take part in social action, such as volunteering in their communities.
Launched in September 2016, this fund has supported initiatives such as Scouts and Guides, and improved accessibility of the Duke of Edinburgh scheme to disadvantaged young people.
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