SINGAPORE (THE BUSINESS TIMES) - Standard Chartered has made a $1 million donation in Singapore as part of its US$50 million (S$71 million) global assistance fund to help communities deal with unprecedented challenges from the Covid-19 outbreak.
Working with the Infocomm Media Development Authority and its NEU PC Plus programme, the bank provides needy students - including those from non-Ministry of Education schools - with computers and broadband access so they would not miss out on Home-Based Learning.
The NEU PC Plus programme offers low-income households with student or person with disabilities the opportunity to own a new computer at an affordable price.
Partners have come together to make access to the programme easier, for example, by waiving the co-payment scheme, and enabling households with three or more children to get a second computer.
Standard Chartered is also an early supporter of The Invictus Fund, which was established by the National Council of Social Service to support social service agencies during the Covid-19 pandemic.
Community Chest - through which the donation is made - said donations and volunteering numbers have dropped significantly since the onset of Covid-19. In a climate of infection risk through close contact, social service agencies have to adapt to new ways of service delivery quickly. The fund was set up to ensure that critical social services are delivered to vulnerable individuals and families amidst these challenging times.
Mr Patrick Lee, CEO of Standard Chartered Bank (Singapore), said: "Covid-19 has made an adverse and profound impact on our businesses and communities. This is precisely a time for all of us do more, as the needs of the community have become more varied and extreme. Our colleagues are also volunteering in bank-organised activities that aims to support our Singapore community in these challenging times."
Of its US$50 million global fund, Standard Chartered is immediately donating US$25 million to support emergency relief. The additional US$25 million will go to communities over the medium term to aid recovery from the economic impact of the virus.