PM Donates $500,000 To Fund...

WTF!!
that's my money too!!

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Thu, Jan 15, 2009
The Straits Times

Latest donation comes from the salary increase of $1.04 million he received last year. -ST, AsiaOne

PRIME Minister Lee Hsien Loong has contributed $500,000 to an endowment fund he set up last year to provide two additional awards for outstanding students. The two new awards are the 'Lee Hsien Loong award for outstanding all-round achievement', and the 'Lee Hsien Loong award for outstanding bicultural students'.

The former recognises students from junior colleges, polytechnics, Institute of Technical Education (ITE) and autonomous universities who have done well both academically and non-academically. They should also have made outstanding contributions to the community and demonstrated the spirit of Innovation and Enterprise. Each winner will receive an award of $600.

The latter will be given to two top bicultural students who are conversant in Chinese or Malay, and are able to engage China or our regional neighbours, as well as relate to the West. Each winner will receive an award of $500.

This latest donation to the fund comes from the salary increase of $1.04 million that Prime Minister Lee received last year as a result of the salary adjustments announced in April 2007. He has donated the rest of last year's increase to a range of community, grassroots, arts and welfare organisations.

Mr Lee had forgone the pay rise announced in 2007, saying at the time that would be donating the increases to charity for the next five years.

The following is from his press statement:

"Last year, I set up an endowment fund for two education awards, to recognise students who have persevered and done well, and schools which have found effective ways to help these students.

This year, after discussing with MOE, I will create two more education awards. One award will recognise students who have done well both academically and non-academically, and have contributed to the community in enterprising ways, whether they have studied in the Junior Colleges, ITE, Polytechnics or Universities. The other award will recognise top students from the Bicultural Studies Programme (Chinese) and the Regional Studies Programme.

I am contributing an additional $500,000 into the endowment fund this year. This will enable the endowment to generate enough returns to fund all four awards. Over the next few years, I intend to make further contributions to build up the endowment.

Education is the key to success in Singapore. It gives students the opportunity to acquire the skills and knowledge to create better lives for themselves. I hope that the awards will encourage students to do their best and excel, and help to foster an inclusive education system that nurtures students of all talents and abilities.