A new disaster recovery fund could help Malta face future crises such as the COVID-19 pandemic, according to a government document published on Wednesday.  

The fund is part of the government’s post-pandemic strategy that was unveiled on Wednesday (see PDF below) by Post-COVID Strategy Minister Owen Bonnici.

Announcing the government’s plans at a press conference, Bonnici said it was important to learn from the pandemic and take action to increase Malta’s ability to respond to future crises.

“This document we are presenting today is not the work of one ministry but of an entire cabinet of ministers and a whole government,” he said. 
 
“And thanks to this collective effort we have come up with a strategy to ensure our country is secure and has solid foundations for the years to come.”

Plans to use skills of retired professionals

To this aim, the government will draft a framework for the setting up and financing of a disaster recovery fund that can provide a safety net for unforeseen circumstances.

While no figure is given for the proposed fund, the strategy document says the government will work to enhance disaster-recovery capabilities and establish "long-term plans for more robust sea, land, air, energy and digital connectivity".

The government says it will also explore how to tap pools of retired professionals, which could be brought in to support specific situations and be continuously trained in emergency preparedness.

In 2015 a study had found that just one in 10 Maltese has faith in the country’s ability to cope with a large-scale disaster. 

Malta will also begin to repair public finances, which underwent severe strain during the pandemic.  

Nod to sustaining passport income

In particular, it will "work to sustain the National Development and Social Fund over the medium term". 

The fund is financed from the sale of Maltese passports to wealthy investors. The scheme is currently the subject of possible EU court action.   

[attach id=1079554 size="large" align="left" type="image"]The strategy was published by Post-COVID Strategy Minister Owen Bonnici on Wednesday. [/attach]

According to the strategy document, the post-pandemic era began in 2020 when the COVID-19 virus first landed on the island’s shores. 

“While we recognise that the crisis is not yet over, it is no longer at its height and now is the right moment to start planning for the future,” the document reads. 

The strategy document was drafted after some 80 meetings with stakeholders and is based on a number of expert reports, including on the state of the economy. 

Bonnici said the strategy seeks to answer three key questions: 

How do we improve quality of life and wellbeing? 

Straight off the bat, the document concedes that assessing the full impact of the pandemic on Maltese society is “a sizeable task.” 

To this aim, the government plans to launch detailed studies to understand what assistance different segments of society need and how best to provide it. 

Malta will also support students to catch up with lost learning.

To maintain the sense of community spirit that came to the fore during the pandemic, the strategy seeks to foster social cohesion and equity across Maltese society. 

Illustrating how this can be done, the strategy says Malta will give vulnerable people greater access to training and employment opportunities and strengthen integration programmes. 

How do we sustain business and employment and drive a strong recovery? 

Now, the document says, is the time to help businesses restart, restructure and transform their operations to a more sustainable model. 

The government plans to develop programmes that guide and support businesses and workers to get “future-ready” and to help them embrace new technologies and working systems. 

Malta will also refocus and integrate education, labour and economic policy, modernising educational curricula.  

The government says it will foster public-private collaboration. 

It also plans to facilitate business investment and channel funding into start-ups. 

How do we remain resilient and competitive? 

The strategy says it is important to learn from the pandemic and take action to increase Malta’s ability to respond to future crises.

To this aim, the government will enhance disaster-recovery capabilities and establish long-term plans for more robust sea, land, air, energy and digital connectivity.

Malta will begin to repair public finances, which underwent severe strain during the pandemic. 

It will also create a framework for the setting up and financing of a disaster-recovery fund that can provide a safety net in the years ahead.

Resilience to future shocks also relies on protecting the island’s natural resources, the document says.

“We will focus on systematic education, conservation and a shift towards a more sustainable way of living in harmony with the environment for the benefit of current and future generations,” it says. 

More concretely, the strategy calls for a push towards eco-tourism and heritage as a new direction for Malta’s touristic offering. 

The document says the government will also seek to instill a culture of ethical behaviour, from school-age upwards, “to ensure all members of society can contribute to the common good”.