YouthBanks are grant-making bodies run by young people for young people.
The Glasgow-based YouthBank will be set up by the big step, a community planning partnership for 12- to 25-year-olds in or leaving care. Grants from a first-year budget of 10,400 will be allocated by and benefit young people leaving care.
Helen Shepherd, YouthBank UK programme co-ordinator, said: "We are open to applications for thematic YouthBanks."
Nabila Ayub, 20, a member of the YouthBank UK's advisory forum, which makes the licensing decisions, said: "YouthBanks help us reach out to groups we might not be able to reach."
The big step was one of five YouthBanks in England and Scotland to be given licences by the forum at the end of last month, taking the UK total to 53.
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