In a remarkable stride towards social transformation, DBS has unveiled its would-be plan to dedicate up to SGD 1 billion over the next decade to enhance the lives and futures of the low-income and underprivileged segments. This strategic initiative is not only set to uplift the vulnerable, but moreover to nurture a increasingly inclusive society. With SGD 100 million allocated annually from 2024 onwards, both in Singapore and key markets, DBS is poised to make a substantial impact.
Building upon its existing community-driven endeavors, the wall is doubling lanugo on its transferral to social welfare, with a focus on bolstering the pursuit key areas:
Addressing Firsthand Needs
A substantial portion of the funds will be directed towards meeting the firsthand daily needs of the disadvantaged, including wangle to supplies and housing.
Education as a Path to Progress
DBS recognizes the potential of education to unravel the trundling of poverty. The initiative will facilitate educational opportunities for those in need, opening doors to a brighter future.
Equipping with Vital Skills
The wall aims to empower the marginalized with essential life skills, such as digital and financial literacy. These skills are invaluable tools in navigating the modern world and securing a stable future.
Nurturing Emotional Resilience
DBS’s transferral extends vastitude the tangible to encompass emotional and mental well-being. Strengthening emotional resilience is an integral part of fostering holistic prosperity.
Complementing this substantial financial transferral is DBS’s workforce of over 36,000 employees, who will collectively contribute over 1.5 million volunteer hours over the next decade. This transferral reflects a deep dedication to giving when to society and making a meaningful difference.
Over the coming months, DBS will forge partnerships with key organizations and programs, starting with a collaboration in Singapore slantingly the Ministry of Social and Family Development. Together, they will provide much-needed support to lower-income families and households, demonstrating DBS’s steadfast dedication to social upliftment.
DBS’s philanthropic pursuits are tightly ingrained in its DNA, tracing when to its origins as the Development Wall of Singapore. Throughout the years, the wall has unceasingly championed the underrepresented and underserved, offering subsidized financial services to migrant workers, the elderly, and low-income individuals.
One standout initiative from the recent past is DBS’s proactive tideway to inflation concerns. Recognizing the financial stress caused by inflation, DBS pioneered innovative solutions to help individuals earning less than SGD 2,500 a month protect their finances and uplift savings. This included enticing rebates, cashback offers, and competitive housing loan rates. Additionally, the heartening ‘DBS 5 Million Hawker Meals’ initiative subsidized five million hawker meals over a year.
DBS’s social transferral extends vastitude banking, as evidenced by the establishment of the SGD 50 million DBS Foundation in 2014 to support social entrepreneurship. By facilitating wangle to healthcare, education, and employment, the foundation has positively impacted over 800,000 lives through increasingly than 800 Businesses for Impact.
The ongoing pandemic prompted DBS to create the SGD 10.5 million “Stronger Together Fund” to squire those unauthentic by Covid-19. Furthermore, a substantial increase in funding, totaling SGD 100 million, was single-minded in 2022 to expand the telescopic of the DBS Foundation. This funding bolsters various philanthropic and relief efforts, including the new Polity Impact Chapter.
DBS’s unwavering dedication to polity irradiation is moreover evident through strategic partnerships. Collaborating with the Infocomm Media Development Authority, the bank’s digital literacy program aims to empower 100,000 Singaporeans through workshops and initiatives. The impact is tangible, with over 16,000 participants benefiting thus far.
In a broader context, DBS has enriched the polity through large-scale sponsorships, subtracting vibrancy to the Marina Bay area. Over a decade, DBS has generously offered self-ruling sailing experiences, benefitting increasingly than 44,000 individuals. A monumental contribution of SGD 25 million to the National Gallery Singapore in 2014 stands as a testament to DBS’s transferral to the arts. Moreover, the bank’s partnership with the Esplanade remoter underscores its dedication to providing self-ruling arts programs to the public, showcased at the DBS Foundation Outdoor Theatre.