KUALA LUMPUR: The Malaysia Sustainable Development Goals Trust Fund (MySDG Fund) will be deployed in a systematic and integrated manner to finance, support and complement the government's SDG-focused programmes and projects throughout the country.

This includes funding projects and innovative solutions championed by non-governmental organisations (NGOs), civil society organisations (CSOs), United Nations (UN) agencies, and other developmental organisations, said a joint media statement of the Ministry of Finance (MoF) and the UN.

At the launch of MySDG today, Prime Minister, Datuk Seri Ismail Sabri Yaakob announced the establishment of the Malaysia Sustainable Development Goals Foundation (MySDG Foundation) which will administer the MySDG Fund.

As announced in Budget 2021, the government has allocated RM20 million as initial contribution to the MySDG Trust Fund. The RM20-million allocation is part of Malaysia's five-year national development plans, providing an overarching policy framework for Malaysia to achieve the SDGs in the medium- and long-term.

"This strategic collaboration between the Malaysian government and the UN, which has extensive experience and expertise in the implementation of similar arrangements around the world, is aimed at accelerating the nation's sustainable development efforts," said the statement.

The MySDG Fund will also be jointly administered by the MoF and the UN Office in Malaysia. It will be supervised by a Board of Trustees whose members are appointed from among industry experts, philanthropists and senior government officials.

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.

"Ultimately, all these initiatives will complement the government's efforts to revive the economy and develop the rakyat's sustainable well-being. Once the donor mechanism is established by the MySDG Foundation, parties within and outside Malaysia can begin contributing to the MySDG Trust Fund," said the statement.

All contributions will receive a full tax exemption of up to 10 per cent of the donor's aggregate income. For further information, please visit the MySDG Foundation website at https://www.mof.gov.my/portal/ms/mysdg.

-- BERNAMA