State-owned Development Bank of the Philippines (DBP) is set to launch the fourth batch of scholars under its flagship corporate social responsibility (CSR) initiative, the DBP Resources for Inclusive and Sustainable Education (RISE) scholarship program, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that under the DBP RISE, 510 deserving students from underprivileged Filipino families will be able to pursue tertiary education in 10 DBP-accredited partner Higher Educational Institutions (HEI).
“The 4th year of implementation of DBP RISE serves as a renewal of commitment of DBP with the education sector as it continues to evolve and adapt to the challenges posed by the pandemic and a changing socio-economic environment,” Herbosa said.
DBP is the fifth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.
The DBP RISE is the bank’s primary CSR program on education that grants financial assistance to scholars enrolled in engineering, architecture, real estate management, accountancy, education, sciences, agriculture and forestry, allied medical courses, maritime, hospitality, information technology and technical vocational courses. It was launched in 2018 and has a total funding of P500-million spread over five years.
For this year’s program, DBP Director and Head of the Bank’s Board-Level Development Advocacy Committee Dante V. Liban said that the bank has partnered with four private HEIs and six State Colleges and Universities across the archipelago, which will undertake the screening of prospective scholars.
He said an endowment fund shall be released to partner schools to cover the scholars’ total cost of tuition fees, with a student support fund to cover other expenses including the cost of apprenticeship, residency training, and review courses; food and lodging; and miscellaneous school materials.
“DBP RISE serves as the bank’s tangible contribution to the government’s collective efforts to develop a corps of qualified professionals and skilled workers who can meet the demands of a progressing labor market,” Liban said.
The 10 partner schools for the fourth batch are: Asian Institute of Maritime Studies; Pamantasan ng Lungsod ng Maynila; St. Dominic College of Asia, Cavite; STI Colleges, Inc.; Technological University of the Philippines – Visayas; University of Cebu; West Visayas State University, Iloilo; Mindanao State University, Marawi City; Mindanao State University – General Santos City; and University of Science and Technology of Southern Philippines.