Central Bank sets up foundation to administer national project funds

The Central Bank of Malta has established a foundation which will be responsible for the administration of funding for national projects.

The public benefit foundation, to be known as The Central Bank of Malta Foundation, was established on 5 July following a resolution of the bank’s board of directors.

It is constituted under the Voluntary Organisations Act, Chapter 492 of the Laws of Malta, and as provided for in the Second Schedule to the Civil Code, Chapter 16 of the Laws of Malta.

The new foundation has an autonomous Board of Administrators and will be administering funds intended to support projects of a national stature with lasting visibility relating to education, culture, scientific research, preservation of Maltese national heritage, and social causes.

The foundation’s chairperson is Reverend Marius J Zerafa, former Curator of Malta Fine Arts and Director of Museums.

The other administrators are: Professor Yosanne Vella; Professor Marvin Formosa; Narcy Calamatta and Pauline Lanzon, Head Legal Department, Central Bank of Malta.

The foundation treasurer is Raymond Filletti.