DBS Foundation pledges S$88 million to help 2 million underprivileged people in S'pore & other countries

The DBS Foundation announced on Nov. 11, 2024 via a press release that it will deploy S$88 million in initiatives that provide vulnerable communities with access to essential needs.

Aside from providing short-term relief, these new initiatives equip the vulnerable with the know-how, tools and opportunities for long-term resiliency.

The foundation said that these efforts, which span multiple years, are expected to benefit around two million low-income and under-privileged individuals in the bank’s key markets which comprise Singapore, China, Hong Kong, Taiwan, Indonesia, and India.

New initiatives

There are 15 new initiatives in total.

They include partnering Taiwan's Huashan Social Welfare Foundation to support seniors on their daily needs, working with the Asia Foundation in Indonesia to accelerate financial literacy and inclusion for marginalised women, and providing enrichment classes for underprivileged children in China together with the China Women's Development Foundation.

Here in Singapore, the DBS Foundation is partnering with the Ministry of Culture, Community & Youth to set up the DBS Foundation Community Pop-Up Market, which provides household essentials to low-income households.

The foundation is also working with the Ministry of Social & Family Development to support low-income families with financial literacy, and provide funding support for their education and home ownership goals.

Inaugural DBS Foundation Impact Beyond Summit

The announcement was made at the inaugural DBS Foundation Impact Beyond Summit held in Singapore.

The summit is part of the foundation's "Impact Beyond" signature programmes that aim to harness collective thinking and action in order to tackle pressing societal issues, starting with ageing.

DBS Foundation recently launched its Impact Beyond Award to encourage businesses to come up with innovative solutions that improve "living spans" and enable ageing with dignity and purpose. Each winner stands to win up to S$1 million in prize money.

Top image: DBS Foundation.