DBS Foundation deploys SGD 88 million to widen financial inclusion and provide essential needs to vulnerable communities across Asia

[1]Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications 15 new programmes to uplift the lives and livelihoods of vulnerable communities

Providing essential needs: Nine initiatives aimed at enabling those in need to access essential needs such as healthcare (including mental health), basic education and food security. Initiatives range from helping young children to get a better start in life by improving their home conditions, to enabling seniors to enjoy a better quality of life in their golden years.

Fostering inclusion: Six initiatives designed to help vulnerable communities to build towards a more financially resilient future. These include improving their access to financial services, financial and digital literacy skills, and upskilling opportunities to boost employability.

This is part of efforts to ramp up support for vulnerable communities, with a commitment of up to SGD 1 billion and 1.5 million employee volunteer hours over ten years from 2024.

It also augments the Foundation’s decade-long work in creating societal impact by catalysing the growth of businesses for impact, and supporting the community through various programmes. With the inclusion of these 15 new initiatives, DBS Foundation’s suite of efforts to date are projected to impact over 9.8 million beneficiaries by 2027.

DBS Foundation ‘Impact Beyond’ series

The Summit is part of DBS Foundation’s ‘Impact Beyond’ signature programmes which seek to harness the power of collective thinking and action to tackle pressing societal issues. For a start, the Foundation is putting the focus on ageing.

Earlier in September, the Foundation gathered key members of the business community for its first dialogue on the topic, and launched a new Impact Beyond Award – offering prize money of up to SGD 1 million per winner, mentorship by DBS’ seniors leaders, and more – to support visionary businesses with innovative solutions that could improve ‘living spans’ and enable everyone to age with dignity and purpose. Submissions are ongoing till 30 November.

APPENDIX: Examples of new DBS Foundation programmes

A: Providing Essential Needs

China

China Women's Development Foundation (2 years)

Improving home environment and providing enrichment classes to underprivileged children to enhance education outcomes

Hong Kong

The Hong Kong Council of Social Service (3 years)

Digital healthcare solutions for underprivileged seniors; to provide health education and early intervention services

Singapore

Ministry of Culture, Community & Youth (0.5 year)

DBS Foundation Community Pop-Up Market seeks to reduce financial distress faced by low-income households; defrays daily living costs by providing household essentials, and equips them with budgeting and nutritional tips

Taiwan

Huashan Social Welfare Foundation (3 years)

Senior support programme to support vulnerable seniors on their daily needs, and strengthen their mental resilience

B: Fostering Inclusion

Hong Kong

The Hong Kong Council of Social Service (3 years)

Financial literacy for underprivileged families living in government subsidised housing, to help them to achieve financial stability

India

Haqdarshak (2 years)

Financial literacy and social welfare access for rural underprivileged communities

Indonesia

The Asia Foundation (3 years)

Accelerate financial literacy and inclusion for marginalised women

Dicoding Foundation (2 years)

Upskill youth (with limited access to higher education) in digital literacy to build better employability

Singapore

Ministry of Social & Family Development (3 years)

Support low-income families with financial literacy, and provide funding support for their education and home ownership goals

Taiwan

Money Trainer Financial Literacy Consulting (3 years)

Construct a comprehensive financial assistance system for financially disadvantaged families

^[1] Singapore, China, Hong Kong, Taiwan, Indonesia and India[END]About DBS Foundationwww.dbs.com/dbsfoundation