Standard Chartered Foundation is investing US$6 million to boost youth employment and support sustainable livelihoods in Singapore and ASEAN.

Most of the investment will be channelled through the foundation to develop an ASEAN blue economy programme that helps sustain coastal and maritime ecosystems while improving the economic livelihoods of communities across the region.

The initial phase will include a landscape assessment to identify untapped potential and blue economy-related job opportunities.

Globally, 282 million young people are not in employment, education, or training, including about 19 million in ASEAN, where young women are 1.5 times more likely to be unemployed than men.

Since 2019, the foundation has helped create more than 100,000 jobs for young people worldwide and aims to extend this impact across the region.

The second initiative will see the foundation partner Community Chest, the philanthropy arm of the National Council of Social Service, and Daughters of Tomorrow to launch the Youth Employment for Success (Y.E.S.) programme.

Running until 2028, it will support women aged 18 to 35 from lower-income communities in Singapore through job-readiness and well-being training designed to build confidence and strengthen employability.

Patrick Lee, CEO, Singapore and ASEAN, Standard Chartered, said,

“The flagship ASEAN blue economy programme funded by the Standard Chartered Foundation, together with our industry partners, holds immense economic potential that we hope can translate into tangible job opportunities that will uplift youth employability in this vibrant region.

Similarly, our partnership with DOT reinforces the bank’s SG60 commitment, as we continue to make a positive impact on the community, together with our employees in Singapore.”