Ayala Corporation Chairman Jaime Augusto Zobel de Ayala led a group of business leaders and the corporate community in the Philippines to raise S$4 million or about $2.98 million in support of outstanding Filipino students who wish to pursue their higher education at the Singapore Management University (SMU).
In a statement, SMU said this S$4 million funding is the first and largest contribution to date from a collective group of overseas donors to SMU.
The fundraising effort towards the SMU Philippine Community Fund was initiated by Zobel who is also Chair of SMU International Advisory Council (IAC) Philippines. He served as a member of the SMU Board of Trustees from 2010 to January 2024.
Under his leadership, members of the SMU IAC Philippines and various Philippine conglomerates, foundations and individuals came together to champion the educational aspirations of outstanding Filipino students.
The contributors are the Ayala Group’s Bank of the Philippine Islands and Globe Telecom, Filinvest International Pte Ltd, First Philippine Holdings Corporation, Gokongwei Brothers Foundation, ICTSI Foundation, Jollibee Group Foundation, Megaworld Corporation, Maria Victoria Cuisia, Teresita Sy-Coson, and SMU Philippines Alumni Chapter & Friends.
Dedicated to advancing education and fostering industry growth, this gift provides international undergraduate scholarships, postgraduate scholarships and exchange scholarships for outstanding Filipino students.
Innovation internship grants will be open for application by all SMU undergraduates.
Commencing in Academic Year 2024/2025, the scholarships will provide each undergraduate and postgraduate recipient with S$20,000 per year.
Exchange and internship students will receive S$5,000 each, per year. The fund will benefit up to 11 students annually and will last in perpetuity.
This philanthropic contribution unlocks a broad range of opportunities for learning and development, fostering the cultivation of future leaders and innovators.
Its potential positive influence extends beyond the deserving Filipino students to elevate their families and the broader community.
"It is an honor for the International Advisory Council of the Philippines to kickstart the SMU Philippine Fund. We hope that this will catalyze tremendous growth and impact for Filipinos who wish to study in one of the region’s leading higher education institutions,” said Zobel.
Professor Lily Kong, SMU President said, “aligned with SMU Vision 2025’s strategic priority of Growth in Asia, this partnership will contribute to the region’s development and enhance the university’s international standing.
“As we commemorate 55 years of bilateral relations between Singapore and the Philippines this year, I am confident that this collaboration will leave a lasting and positive impact on both countries, and I look forward to further engagements with industry leaders in the Philippines,” she said.