UOB sets up S$50 million scholarship programme with government grant

UNITED Overseas Bank (UOB) on Thursday said it has contributed S$20 million to a scholarship programme - known as the Wee Cho Yaw Future Leaders Award - to provide tertiary education funding for students from less privileged backgrounds. The S$50 million scholarship programme was established with a S$20 million gift from UOB and a 1.5 times matching grant from the Singapore Government.

The award will be provided in partnership with the Nanyang Technological University and the National University of Singapore. Awardees will be selected based on their financial background, followed by academic performance and community efforts including volunteer work. The first cohort of awardees will be selected in 2016.