DBS announced on Nov 26 that it has awarded some $9 million in loans and grants to social enterprises (SEs) so far in 2020, making it the largest collective disbursement of loans and grants within a year to SEs since the inception of DBS Foundation.

The foundation was set up in 2014 to champion the growth of social entrepreneurship.

The figure marks an additional $7 million in loans disbursed to SEs this year, up four-fold from 2019, as businesses find themselves hard hit by the Covid-19 pandemic.

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