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UN and Government of Malaysia launch the MySDG Foundation

27 January 2022

Caption: YAB Prime Minister, Dato' Sri Ismail Sabri bin Yaakob launches the MySDG Foundation with Finance Minister, YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz, Karima El Korri, UN Resident Coordinator, YBhg Tan Sri Abdul Wahid Omar, Chairman of the Board of Trustees of MySDG Foundation and YBhg Dato’ Asri bin Hamidon, Secretary General of Treasury

The Foundation was launched by the YAB Prime Minister, Datuk Seri Ismail Sabri Yaakob on 27 January 2022.

The Malaysian Sustainable Development Goals Trust Fund (MySDG Trust Fund) was launched by the YAB Prime Minister, Datuk Seri Ismail Sabri Yaakob, to accelerate the achievement of the national sustainability agenda. YAB Prime Minister also announced the establishment of the MySDG Foundation which will regulate the MySDG Trust Fund.

Caption: Prime Minister, Dato' Sri Ismail Sabri bin Yaakob during his speech on the MySDG Foundation

The establishment of both the Foundation and the Trust Fund is the result of cooperation between the Government of Malaysia through the Ministry of Finance (MOF) and the United Nations (UN) in Malaysia. Such superior collaboration between a central government and a world body is an innovative model to support the achievement of sustainable development in line with the Sustainable Development Agenda 2030. The agenda outlines the 17 Sustainable Development Goals (SDGs) agreed upon by UN members at the Conference. Highlights of Sustainable Development 2015. This collaboration also reflects the Government's ongoing commitment towards ensuring inclusive and sustainable development, by integrating these principles into Malaysia's development plans and policies.

Caption: Finance Minister, Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz giving his welcoming remarks during the launch of the MySDG Foundation

The MySDG Trust Fund is also a financial mechanism that enables various parties-including the Government, the private sector, corporate bodies, agencies from within and outside the country, as well as individuals-to work together to achieve the SDG goals, in line with an integrated spirit and Malaysian Family compatriot approach. Funds raised will be channeled systematically and integrated to fund and mutually support SDG -oriented Government programs and projects throughout the country. This includes funding for innovative projects and solutions by non-governmental organizations (NGOs), civil society organizations (CSOs), UN agencies and development organizations.

As announced in the 2021 Budget, the Government has allocated a total of RM20 million as a start -up fund for the MySDG Trust Fund. This RM20 million allocation is part of the Five Year Malaysia Plan, which outlines the framework and policies for Malaysia to achieve the SDGs in the medium and long term.

Strategic cooperation between the Government of Malaysia and the United Nations, which has extensive experience and expertise in the implementation of this initiative, will be able to redouble sustainable development efforts in Malaysia. The Trust Fund will be jointly administered by the MOF and the UN Office in Malaysia. It will be overseen by a Board of Trustees whose members are appointed from among industry experts, philanthropists and senior Government officials.

Caption: Karima El Korri, UN Resident Corrdinator said - The MySDG Foundation also aims to be catalytic. It has the potential to scale-up inputs and enable a shift from funding to financing, via the private sector and bilateral donors’ participation in the core fund, building on the Government’s initial sizeable contribution. In turn, this may herald development of still more creative SDG financing channels.

In the near term, the MySDG Foundation will focus on funding programs to best rebuild the aftermath of the Covid-19 pandemic, as well as the preservation and conservation of the environment and biodiversity. Subsequently, the scope of programs and projects under this fund will be expanded to other SDG-based projects. The objective of all these efforts will be to assist the Government's efforts in reviving the economy and preserving the well -being of the people.

Once the contribution mechanism is finalized by the MySDG Foundation, parties from within and outside the country can start contributing to the MySDG Trust Fund. All contributions will be fully tax exempt, subject to a 10% limit on the contributor’s aggregate income. For more information, please visit the Foundation's website at https://www.mof.gov.my/portal/ms/mysdg.

Rewatch the launch at https://fb.watch/aP3y5Bipj-/

Ministry of Finance & UN in Malaysia

27 January 2022