The National Development and Social Fund is a government agency established for the purpose of managing and administering 70 percent of the contributions received from the individual investor program of the republic of Malta set up by virtue of the Malta Citizenship Act Cap. 188. The use of such funds is as follows: to contribute to major projects of national importance; to assist in projects and initiatives in the public interest, by inter alia promoting and supporting the advancement of education, research, innovation, justice, the rule of law, employment and public health; to contribute to the development of better public services; to support enterprise and business in improving its competitiveness; to promote research and development in matters conducive to the public interest; to help stakeholders to deliver social, employment and educational projects; to foster initiatives that support reforms and better governance; to support measures for the improvement of the fairness and efficiency of justice; to foster initiatives encouraging gender equality, prevention of discrimination and respect for human rights; to assist initiatives to provide for the social housing needs of the population and to combat social exclusion; to sponsor initiatives for the improvement of health, healthcare and care for the elderly; to undertake initiatives for the benefit of future generations. The NDSF is required to publish its audited accounts on an annual basis and reports to the minister responsible for finance on its activities not less than once a year. The same regulations provide that the fund is subject to being audited by the auditor general and that the audited accounts and the annual report of the fund shall be laid on the table of the House of Representatives. The fund is therefore committed to high standards of transparency and accountability.
