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SINGAPORE: One of the oldest schools in Singapore, Raffles Institution (RI), has launched a new fund to help needy students.
The school, which celebrated its 186th Founder's Day on Saturday, set up the "1823 Fund" – named after the year in which the school was founded – to raise S$50 million in ten years.
The money will be used for several purposes, including giving financial assistance to post-PSLE students who hesitate to enrol at RI due to financial constraints.
The school will also give out grants to students affected by the economic downturn.
- CNA/so
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