UOB commits S$30 million to support disadvantaged students across Asean
Supporting education is an investment in the region’s collective future, says its CEO
UOB committed S$30 million towards programmes that will support the education of more than 120,000 underserved children across South-east Asia, the lender announced on Monday (Mar 3).
The move marks the bank’s 90th anniversary, and the funds will be used for four initiatives which include The Straits Times School Pocket Money Fund and the UOB My Digital Space Programme, among others.
The programmes aim to impart beneficiaries with skills such as digital literacy, as well as provide financial support for school expenses and living costs.
Wee Ee Cheong, UOB deputy chairman and chief executive officer, pointed out that the bank strongly believed in supporting education as it represented an investment in South-east Asia’s collective future.
In one of the initiatives, UOB aims to provide 90,000 children from underprivileged families across 60 cities in the region – mainly from Indonesia and Vietnam – access to educational resources in areas such as coding and computational training over the next three years.
This will come from the lender’s partnership with an Indonesia-based education technology platform.
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Meanwhile, about 20,000 more students across South-east Asia can expect digital learning tools as part of the lender’s My Digital Space programme.
The initiative, which was launched in 2020, hopes to bridge the digital gap between underserved children and their peers.
It has benefited about 38,000 students so far in the region since it was kickstarted.
Additionally, UOB has devoted resources to The Straits Times School Pocket Money Fund.
Some 11,000 students from low-income families will receive 90 days of pocket money to help them through school.
Beneficiaries can use the allowance for school-related expenses, such as for buying meals and paying transport fares.
It will also provide pre-tertiary scholarships, which will cover their education fees and living costs, to 90 students across the Asean region for them to study in Singapore.
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