From left: DBP President and Chief Executive Officer Michael O. de Jesus, DBP Chair Philip G. Lo, Department of Education Secretary Juan Edgardo “Sonny” Angara and Department of Education Assistant Secretary Cilette Liboro Co during the signing of the Memorandum of Understanding for the DBP INSPIRE program
MANILA, Philippines — The state-owned Development Bank of the Philippines (DBP) has unveiled a P510 million program to bolster access to education, pledging to fund scholarships and upgrade public school facilities in a five-year plan to complement government initiatives.
The initiative, called the DBP Integrated Scholastic Program for Inclusive and Responsive Education, or DBP Inspire, will earmark about P437.5 million for scholarships covering tuition, living allowances, and study materials, according to bank president Michael de Jesus.
Meanwhile, another P72.5 million will go toward improving classrooms and equipment in 150 public schools through the Department of Education’s Adopt-a-School and Brigada Eskwela programs.
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“In the first year of the program’s implementation, at least 350 financially-challenged students will benefit,” de Jesus said.
DBP said it has tapped nine schools for the program, namely 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. /dda
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