Budget 2018: RM200 initial savings fund for Malaysian babies born between Jan 2018 and 2022

KUALA LUMPUR: An initial savings fund of RM200 is to be provided to every Malaysian baby born between January 2018 and 2022 through the Unit Trust Scheme of Permodalan Nasional Berhad (PNB), said Prime Minister Datuk Seri Najib Abdul Razak.
Tabling Budget 2018 in Parliament today, he said the new scheme, to ensure the bright future of the TN50 generation, would be named Amanah Dana Anak Malaysia or ADAM50.
Najib, who is also the Finance Minister, said the government also allocated RM250 million with regard to education for the TN50 generation, among others for setting up a Science, Technology, Engineering and Mathematics (STEM) centre.
This centre would develop the latest learning methods to train STEM specialist teachers utilising existing facilities at teacher training institutes in collaboration with the Academy of Sciences Malaysia, he said.
The allocation would also be used to enhance the computer science module, including the coding programme, in primary and secondary school curriculums, which exist in Form One and Form Three.
Najib also said that RM190 million was being allocated to upgrade 2,000 classes into a 21st Century smart classrooms in order to enhance creative-based learning and innovative thinking.
He said the government acknowledged the role of artists to increase the quality of culture to a higher level, and that RM20 million was being allocated to the Cultural Economy Development Agency. — Bernama