Collective Approach Towards Sustainable Agenda With MySDG Fund

The country has launched the new Malaysia Sustainable Development Goals Trust Fund (MySDG Fund) which is aimed to facilitate the nation’s sustainable development agenda.

Administration of the fund will be through the establishment of a Foundation and a Trust Fund that will see a collaboration between the Government of Malaysia represented by the Ministry of Finance (MOF) and the United Nations (UN) in Malaysia. This collaboration is an innovative model to support sustainable development in line with the UN 2030 Agenda for Sustainable Development, prescribing 17 Sustainable Development Goals which were agreed upon by the UN member states during the Sustainable Development Summit in 2015.

The MySDG Trust Fund will be a multi-donor mechanism to enable different parties – including the Government, the private sector, corporate bodies, entities within and outside Malaysia, as well as individuals – to collaborate in achieving the goals. According to MOF, the fund will be deployed in a systematic and integrated manner to finance, support, and complement the Government’s SDG-focused programmes and projects throughout Malaysia. This will include funding projects and innovative solutions championed by NGOs, CSOs, UN agencies and other developmental organisations.

To get the ball rolling, as announced in 2021 Budget, the Government has allocated RM20 million as an initial contribution. This will be part of Malaysia’s five-year national development plans, which provides the overarching policy framework for Malaysia to achieve the SDGs in the medium- and long- term.

In the immediate term, the MySDG Trust Fund will be geared towards funding projects to build back better from the Covid-19 pandemic, and towards the preservation of Malaysia’s natural environment and its biodiversity. Subsequently, the scope of programmes and projects under this fund will be expanded for other SDG-related projects.

MOF says once the donor mechanism is established by the MySDG Foundation, parties within and outside Malaysia can begin contributing to the MySDG Trust Fund. All contributions will receive a full tax exemption of up to 10% of the donor’s aggregate 

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