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The Development Bank of the Philippines (DBP) has allocated nearly P100 million in fresh funding for its five-year scholarship program in partnership with 11 educational institutions across the country.
In a statement, the state-owned bank says it has earmarked P96.75 million under its flagship corporate social responsibility (CSR) initiative, which will fund the second year of implementation of the DBP Integrated Scholastic Program for Inclusive and Responsive Education (DBP Inspire).
The program will benefit 500 scholars, covering tuition and miscellaneous fees for all year levels. It also provides allowances for food, lodging and study materials.
“DBP recognizes the transformative power of education in uplifting the lives of our Filipino youth, and it will continue to support the national government in advancing initiatives for younger generations to become globally competitive individuals and key contributors to economic growth and national progress,” DBP president and CEO Michael de Jesus says.
