Nanyang Technological University Scores Unprecedented Donation

In a stunning move, Nanyang Technological University (NTU) has just secured a monumental $110 million gift from UOB and the Wee Foundation—one of the largest in its history! This incredible funding, when combined with matching government contributions, could inflate into a jaw-dropping endowment of up to $275 million!

Supporting Students and Uplifting the Community

This transformative donation is set to launch several programs aimed specifically at assisting NTU students from low-income families and reinvesting in the community. The funds will support up to 1,200 students and reach an additional 1,500 young people from disadvantaged backgrounds annually.

A Legacy Honored: Remembering Dr. Wee Cho Yaw

The generous gift is dedicated to the late Dr. Wee Cho Yaw, UOB’s former chairman and founder of the Wee Foundation. This Singapore-based charity emphasizes education, healthcare, and Chinese culture, continuing Dr. Wee's mission to empower the future.

Three Exciting New Initiatives

The impact of this donation will be felt immediately through three key initiatives: 1. **NTU Opportunity Grant**: Students facing financial hurdles can receive up to $10,000 to support their education, covering essential expenses like accommodation and overseas exchanges. Over 400 first-year students are expected to benefit each year! 2. **Community Mentorship Program**: NTU students will volunteer as mentors and tutors for younger children and teens from underprivileged backgrounds, focusing especially on those from single-parent families. This program not only nurtures youth but also allows NTU students to earn academic credits! 3. **NTU Venture Creation programme**: Aspiring innovators can tackle real-world challenges in fields like AI and sustainability. Approximately 300 students will receive seed funding to kick start their projects, with the top teams potentially securing additional funding of up to $100,000 to expand their ideas!

UOB's Commitment to Education Beyond Borders

UOB’s monumental gift aligns with the bank's ongoing commitment to education across Southeast Asia, coinciding with its 90th anniversary. Earlier in March, UOB pledged another $30 million to help over 120,000 children and students from less fortunate backgrounds.

A Family Legacy of Giving Back

Mr. Wee Ee Cheong, UOB’s deputy chairman, reflected on how this gift embodies the values instilled by his father, Dr. Wee. He stressed the life-transforming power of education, a belief rooted in his own interrupted studies due to World War II.

A Call to Action

NTU President Ho Teck Hua hailed the donation as a 'game changer' that honors Dr. Wee's legacy and inspires the NTU community to create a positive ripple effect in Singapore, especially as the nation celebrates its 60th anniversary of independence.

A Vision for the Future

Education Minister Chan Chun Sing expressed hope that this monumental contribution would leave a lasting legacy, motivating NTU students for generations to give back to society. This gift is not just about funding; it’s about creating a culture of giving and community support!