The Robert F. Kennedy Memorial--a loosely-defined corporation which will look for solutions to social problems--has been created, Mrs. Robert F. Kennedy and Senator Edward M. Kennedy '54 announced yesterday.

The Memorial's goals will be "to encourage the young people, to help the disadvantaged and discriminated against both here and abroad," and "to promote peace in the world," Mrs. Kennedy said.

The Memorial Corporation will not run any long-term projects by itself, but will instead concentrate on identifying pressing problems and initiating action to alleviate them. This action will include financing, providing ideas, and involving able people.

As part of its work, the Memorial will sponsor fellowships for young leaders, community organization work among the poor, special schools, and international awards for outstanding achievement.

Robert S. McNamara, president of the World Bank, was named Chairman of the Executive Committee of the Memorial, and Thomas J. Watson, Jr., Chairman of the Board of IBM, will be the Finance Chairman. Samuel Brown, coordinator of student activities for the McCarthy campaign, is one of the seven members of the Executive Committee.

Close associates of the late Robert F. Kennedy '48 will staff the Memorial initially. It is designed to be a "living memorial" to Kennedy and will adapt to new situations and function effectively over a long period of time.