THE North East Community Development Council has set itself an ambitious target: to raise $3 million from sponsors by 2012 to help 24,000 needy residents.

But it is not stopping at that.

Its Mayor Teo Ser Luck said the CDC will match dollar-for-dollar, potentially doubling the kitty for it various assistance programmes to $6 million.

The lofty goal is believed to be one of the highest ever set - Central Singapore CDC last month announced it is embarking on a $1 million fund-raising drive.

The 'stretched target' in the words of Mr Teo is important in today's context of a widening income gap.

'The income gap is inevitable, but what we can do is to get more of the well-off to help the less well-off,' he said.

North East CDC to raise $3m