The United Nations in Malaysia and the Malaysian government have launched the MySDG Foundation and MySDG Trust Fund to combat poverty and further the Sustainable Development Goals (SDGs).
Poverty in Malaysia
The need for the government and other agencies to step up against poverty may be because of the step back Malaysia faced recently. This need is not only from normal obstacles that tend to cause economic hardship. The COVID-19 pandemic has also been one of the main struggles for Malaysia recently.
In 2019, the incidence of absolute poverty in Malaysia was 5.6%, recovering from 7.6% in 2016. However, the devastation and hardship from the pandemic caused it to increase to 8.4% in 2020.
Malaysia’s partnership with MySDG Foundation and MySDG Trust Fund has shown its commitment to the Sustainable Development Agenda 2030 which is stated as a “collective blueprint to achieve a better and more sustainable future for all.” The SDG agenda could also be a strategy that changes or helps many different sectors. The agenda aims to work towards improving health care, education, security and many other topics, while also improving the environment and promoting eco-friendliness.
This new coordination showcases the “whole-of-nation,” approach among the U.N.’s great contributions to many countries and their work toward sustainable development for them. The global goal for the U.N. is for people everywhere to have peace and for poverty to end while still protecting the earth’s environment.
The Malaysian government’s work with the MySDG Foundation and other groups to combat poverty shows how cooperation and partnerships can go a long way to resolving issues.
The Formation of the MySDG Foundation and MySDG Trust Fund
Because of the need to further the agenda, the government formed the MySDG Foundation. The aim was for the Foundation was to help the government work on improving the economy and preserving the environment and the sustainability of Malaysia’s people.
One way the MySDG Foundation aims to provide aid is through the MySDG Trust Fund. Funds will go through the Trust Fund and then undergo dispersal between the government’s SDG projects/programs. The money will also go to other participating nonprofits, civil society organizations and U.N. agencies, which also have the same SDG agenda or partnerships as the Malaysian government.
The starting funds were RM 20 Million ($4,319,187.99), kicking off this cooperation in 2021. However, the initial start date of the foundation was January 27 and listed the founder as Prime Minister Datuk Seri Ismail Sabri Yaakob.
Summarized Goals by the Ministry of Finance
The Malaysian Ministry of Finance was able to summarize the objectives of the fund as targeting struggling sectors first. The Ministry stated that “It also aims to fulfill financing gaps and facilitate joint initiatives by various stakeholders to translate SDG aspirations into practical actions through effective multi-stakeholder collaboration.” The Ministry also commented on supporting the SDG agenda and not making decisions until having consultations from many levels and parts of different sectors that they are working on.
The official portal of Malaysia’s Ministry of Finance also lists those involved with the project like the Board of Trustees, explanations about the experts for the different sectors, the founders, the U.N. agency segments in the collaboration, the committees and a donation fund link that is coming soon.
The ultimate goal is to revive the Malaysian economy by having the MySDG Foundation and funds to combat poverty. The showcase of the U.N. collaboration and the opportunity for other private and public companies to help towards a common good radiates hope for the people of Malaysia and elsewhere. The sustainability the workers of this fund want for the Malaysian people will bring them out of poverty but they hope that they will be able to continue to protect the earth’s environment too.
– Marynette Holmes