UOB establishes foundation to scale CSR initiatives for education, children, arts

[SINGAPORE] UOB on Wednesday (Mar 25) announced that it is establishing the UOB Foundation to scale its corporate social responsibility (CSR) initiatives across the region. 

It will provide a sustained platform for the bank to continue giving back towards the causes of education, children and the arts.

Janet Young, chairman of UOB Foundation, said the foundation “reflects our commitment” to ensure that “future generations are given the chance to thrive”, “education opens doors”, and “the arts and culture continue to bring meaning, connection and strength to our communities”.

The bank will spearhead initiatives in these areas through employee volunteerism and partnerships with community stakeholders.

Wee Ee Cheong, deputy chairman and CEO of UOB, added: “The foundation will support initiatives such as scholarships, digital learning and financial literacy programmes – helping to equip the next generation with future-ready skills.”

The UOB Foundation will be operational from the second half of 2026. Its initiatives build on the bank’s previous CSR commitment, including a S$90 million donation pledge to benefit 250,000 children and youths over the next five years.

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A hub for startups

Separately, on Wednesday, UOB and Nanyang Technological University (NTU) launched an innovation hub to incubate up to 90 startups over the next five years. 

The lender and the Wee Foundation have committed S$110 million for it, which was pledged in April last year. With government matching, the total endowment will reach up to S$275 million.

Located on NTU’s campus, the hub comprises incubation rooms and collaborative workspaces to allow startup founders to develop their ventures without incurring upfront costs.