With just 710 square kilometers of land area, Singapore is one of the smallest countries in Asia. But don’t be fooled by its size. It’s one of the wealthiest countries across the continent, and home to more than 300,000 millionaires.
It seems fitting then that the island nation serves as the initial base for ImpactCollab, a new initiative by the Asian Venture Philanthropy Network aimed at engaging Asia’s richest in philanthropic giving. It comes at a crucial moment, as philanthropy is being asked to step up, at a time of distress in the aid sector and high debt burden in countries.
The initiative is being supported by the Monetary Authority of Singapore and the Gates Foundation. The latter announced plans in May to open an office in Singapore to partner with philanthropic partners in the region. Singapore, meanwhile, has ambitions of becoming a regional philanthropy hub in Asia.
About the author
Jenny Lei Ravelo@JennyLeiRavelo
Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.
