Standard Chartered Foundation has announced a $6m investment aimed at enhancing youth employability in Singapore and the ASEAN region. This initiative, revealed at a recent networking event attended by key figures such as Minister Chee Hong Tat and Standard Chartered leaders, seeks to improve economic opportunities for young people, with a particular focus on young women.
The majority of the funds will be directed towards developing a programme to foster a thriving blue economy in ASEAN, which aims to sustain coastal ecosystems and improve the economic livelihoods of local communities. This initiative is crucial given that 282 million young people globally are not in employment, education, or training, including 19 million in ASEAN, where young women face higher unemployment rates.
Additionally, the Foundation will collaborate with Community Chest and Daughters of Tomorrow to launch the “Youth Employment for Success” (Y.E.S.) programme. This initiative will provide job-readiness and well-being training to young women from lower-income communities in Singapore, running until 2028. Von Leong, Board President of Daughters of Tomorrow, expressed optimism about the partnership, stating it aligns with their mission to break cycles of poverty through long-term employment.
Patrick Lee, CEO of Singapore and ASEAN at Standard Chartered, highlighted the bank’s unique position to catalyse philanthropy and sustainability, noting the economic potential of the blue economy programme and the positive community impact of their partnership with Daughters of Tomorrow. The investment underscores Standard Chartered’s commitment to empowering youth and fostering sustainable development in the region.
