Development and Social Fund revenue down, owing to COVID-19

Development and Social Fund revenue down, owing to COVID-19


The agency which administers government income from the sale of passports saw less funds diverted to it last year because of their use in the COVID-19 emergency.
The National Development and Social Fund (NDSF) received €27.8 million from revenue from the Individual Investor Programme so that the total amount of proceeds received from inception to date amounted to €599.8 million.
In 2019, NDSF received €105.9 million.
"The difference is the result of the fact that in 2020, the ratio of how funds are distributed was changed in order to reflect the exigencies of the global 
health pandemic. Whereas, under normal circumstances, 70% of the proceeds from Komunità Malta were normally received by the NSDF, this percentage was changed to 20%," the agency said on Monday.

Related Keywords

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