State-owned Development Bank of the Philippines (DBP) has launched a ₱510-million corporate social responsibility (CSR) program designed to strategically allocate resources and promote access to quality education in both basic and tertiary levels.
DBP President and CEO Michael O. de Jesus said the DBP Integrated Scholastic Program for Inclusive and Responsive Education (DBP INSPIRE) is a five-year omnibus program that seeks to supplement the National Government’s education initiatives through collaborative endowment and support projects.
“The DBP INSPIRE program reinforces the Bank’s commitment of fostering support to the education sector and is aligned with President Ferdinand R. Marcos, Jr.’s vision to place education at the forefront of the national development agenda,” de Jesus said.
DBP, the country’s 10th largest bank by assets, provides credit support to four priority sectors: infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
The program is implemented in collaboration with the Department of Education (DepEd) and partner higher education institutions (HEIs) to ensure strategic optimization of resources.
For scholarships, DBP will allocate ₱437.5 million to cover tuition, matriculation fees, living allowances, and study materials. “In the first year, at least 350 financially-challenged students will benefit, especially those enrolled in Engineering, Accountancy, Education, Agriculture and Forestry, Sciences, Maritime, Information Technology, and Technical Vocational courses,” de Jesus said.
Nine HEIs are participating: Bulacan State University, Polytechnic University of the Philippines, Saint Dominic College of Asia, Cebu Normal University, University of Cebu, Mindanao State University – Iligan Institute of Technology, Misamis Institute Technology, University of Science and Technology of Southern Philippines, and Zamboanga State College of Marine Science and Technology.
The program provides ₱72.5 million for DepEd’s Adopt-a-School and Brigada Eskwela programs, improving classroom facilities and providing essential learning equipment for 150 public schools.
DBP INSPIRE sustains gains from previous CSR education initiatives—DEEP and DBP RISE—which had a combined ₱1.5-billion budget and benefitted over 5,000 scholars in 15 years, achieving employment rates of 94% and 96%, exceeding the 10-year national average of 94.05%.
