State-owned Development Bank of the Philippines (DBP) has intensified its corporate social responsibility (CSR) efforts by partnering with the Department of Education to expand its assistance to public schools especially those located in low-income areas, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said that the Bank has disbursed over ₱4-milion for the DepEd’s Adopt-a-School Program (ASP).
“DBP has stepped up its CSR initiatives in solidarity with President Ferdinand Marcos Jr.’s vision of enhancing the inclusive quality of education,” de Jesus stated. “Through these recent efforts, DBP has been able to reach far-flung areas and aid the poor and underprivileged students in the country.”
DBP is the 10th 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 ASP was established by virtue of Republic Act No.8525 or “Adopt-a-School Act of 1988” which aims to improve the quality of education in the country by addressing the shortage of resources in public schools.
De Jesus said under the ASP, DBP has released a total of ₱4 million to eight partner schools nationwide such as Saguday National High School in Quirino, Balud National High School in Masbate, Beniton Integrated School – Bontoc 1 in Southern Leyte, Sultan Mamarinta Panandigan Integrated School in Iligan City, Lanao Del Norte, B.A. Calamba National High School in Cotabato, Lintugop National High School in Zamboanga Del Sur, and Samboan National High School and Argao National High School in Cebu.
He said DBP’s financial assistance was used in the procurement of computers, installation of stable internet connection, distribution of learning equipment, and improvement of facilities.
“DBP would closely coordinate and collaborate with other government agencies to look for ways to maximize support to disadvantaged sectors and at the same time, promote social inclusion and drive positive change,” de Jesus said.