Youth for Youth, which is co-ordinated by social regeneration charity East Potential and backed by Barclays bank, offers young people who want to make a difference to their community the opportunity to apply for a grant.
The scheme is part of the nationwide YouthBank UK initiative, which allows young people to provide small grants to other young people.
Warsame Abdi, 21, a resident at one of East Potential's foyers in Tower Hamlets, said: "I hope we can now start raising money and helping young people in our community to rise up, achieve their goals and make a positive and lasting difference."
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