The National Development and Social Fund

September 16, 2019

What is the National Development and Social Fund (NDSF)?

The National Development and Social Fund (NDSF) are a Government Agency that was set up under the Maltese Citizenship Act Cap 188. The NDSF manage and administer the contributions made through the Individual Investor Programme (IIP).

What do they do?

The NDSF receives 70% of contributions received by Identity Malta from the Maltese Citizenship by Investment Programme and used in the public interest, among other things, for the improvement of:

Education
Research
Innovation
Social purposes
Justice and the rule of law
Employment initiatives
The environment
Public health

The NDSF Strategy

What is the mission of the National Development and Social Fund?

“The mission of the NDSF is to contribute towards, promote and support significant projects and initiatives of national importance and public interest. These projects are intended to develop and improve the economy, public services and the general well-being of present and future generations.” – NDSF Mission Statement.

Who manages the Fund?

A Board of Governors manages the Fund. Moreover, the board consists of five members who are appointed by the Prime Minister to carry out this position. Additionally, if you want to know who is currently on the board, click here.

Is the Fund independent?

The NDSF is a government agency; however, they are a separate legal body. In addition, the Agency Performance Agreement regulates the relationship, communication, consultation and reporting lines between NDSF and the Government.

What does the Fund not do?

There are four main investment strategies the NDSF will avoid doing:

Be a rainy-day fund for the government
Undertake or support initiatives that trigger a long-term expenditure commitment on the Public Sector.
Invest funds that amount to more than the Fund’s expected revenue for the year.
Undertake or support initiatives for which funding is available from other sources, e.g. National Budget or EU Funding.