Officially launched in September 2023, PAA is a Temasek Trust initiative dedicated to catalysing collaborative philanthropy through multi-sector partnerships. Temasek established Temasek Trust in 2007 to steward philanthropic assets and gifts from donors.
The rollback of development aid worldwide is real, evidenced by the Trump administration’s dismantling of the US Agency for International Development (USAID) since February.
In the future, restoring the funding and capacity that have been axed could prove tougher than expected, warns Shaun Seow, CEO of the Philanthropy Asia Alliance (PAA). “Even if the tap is turned back on, muscle memory can be lost. So, it will take a while to really crank the system back up,” says Seow, who moved from Temasek in April to succeed Lim Seok Hui as PAA chief.
