French multinational financial services firm Natixis has donated $150,000 to support students from needy Singaporean families.

Mr Pin Chua, Natixis' senior country manager of Singapore and head of South-east and South Asia for corporate and investment banking, said: "As we continue to navigate challenges brought by the pandemic, it is essential that we do not lose sight of those in need.

"At Natixis, learning and development are at the heart of our core beliefs and form the basis of our growth strategy. Therefore, we are delighted to be in a position to make a contribution to The Straits Times School Pocket Money Fund (STSPMF), giving countless children additional support with their essential needs, as they strive to reach their full potential."

Mr Chua presented the fund with the $150,000 cheque yesterday.

STSPMF general manager Tan Bee Heong said: "There is an increase in the number of applications for our fund this year due to the pandemic, and this donation by Natixis will help us provide the much needed school pocket money to our students from low-income families."

The fund, which was launched on Children's Day on Oct 1, 2000, has disbursed more than $80 million and helped around 180,000 students from families whose per capita gross monthly household income does not exceed $690.

To help needy students cope with this downturn, special payouts were made last year to about 10,000 students receiving regular help from the fund.

The payouts, amounting to $50 a month for two months - May and July - and $100 in November, came on top of what they received monthly.