Temasek Trust and the World Bank Group have signed a memorandum of understanding (MoU) to establish a strategic partnership, aiming to leverage their combined strengths in philanthropy and development finance. This collaboration, announced during the World Bank Group Philanthropy Forum in Bangkok, seeks to advance shared development priorities by focusing on climate, energy, water, agriculture, and health.
The partnership will harness the Temasek Trust Collective’s capital capabilities and innovation networks alongside the World Bank Group’s global expertise and country-level insights. Desmond Kuek, Executive Director and CEO of Temasek Trust, emphasised the importance of bridging systemic gaps and scaling effective solutions, stating, “Philanthropy can move early, take risks, and unlock the partnerships and capital needed to turn bold ideas into lasting impact.”
Paschal Donohoe, Managing Director and Chief Knowledge Officer of the World Bank Group, highlighted the growing need for partnerships, saying, “Philanthropic organisations bring deep expertise and innovative solutions that align closely with our core missions and jobs agenda.”
Under the MoU, both organisations plan to collaborate in three key areas: convening and knowledge exchange, shared knowledge and insights, and coordinating partners and capital towards shared priorities. A regional Knowledge Node will be established at Temasek Shophouse in Singapore in 2027 to connect philanthropic partners with World Bank Group datasets and expertise.
This strategic alliance aims to transform promising pilot projects into scalable models, thereby enhancing their impact on communities worldwide. The collaboration is expected to mobilise additional resources and foster high-level dialogues among governments, businesses, and development institutions.
