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Budget 2020: Government to set up new trust for social service sector
THIS year, the Ministry of Social and Family Development (MSF) and the National Council of Social Service (NCSS) will set up a trust to fundraise and support social service agencies.
The new Community Capability Trust will help the social sector to enhance its capabilities and capacities to serve the community, Deputy Prime Minister and Finance Minister Heng Swee Keat said in his Budget speech on Tuesday.
Up to S$350 million will be committed for the trust, Mr Heng said.
This will comprise S$200 million that the government and Tote Board will provide in FY2020. They will also match up to S$150 million in funds raised over the next 10 years.
The trust will provide a pool of funds that social service agencies can tap to transform themselves for the future, Mr Heng said.
“I hope they will make good use of his to strengthen their organisational capabilities, become more productive and enhance their service infrastructure, in partnership with MSF and NCSS,” the minister added.
For more Budget 2020 stories, visit bt.sg/budget20.