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PIA Press Release

DBP to support 420 scholars

Manila (26 February) -- State-owned Development Bank of the Philippines (DBP) will send more than 420 students to agriculture, maritime, technical and vocational courses in the coming school year 2010-2011

This was announced by DBP president & chief executive officer Reynaldo G. David who added that the bank is stepping up its corporate social responsibility (CSR) efforts as it implements the third year of its DBP Endowment for Education Program (DEEP) that provides college scholarships to brilliant but underprivileged youth.

The bank will also be tapping 12 new partner schools for the third batch of DEEP scholars. These include Palawan Polytechnic College; VMA Global College in Bacolod City; Don Bosco Training Center in San Jose, Nueva Ecija; In Touch Avail, Inc. in San Juan City; and Lighthouse Maritime School in Marinduque. Also to be tapped as partner schools are Bicol Merchant Marine College in Sorsogon; Inter-Global College Foundation in Lucena City; Preston Institute of Management Sciences and Technology Colleges in Dagupan City; West Bay College in Muntinlupa City; Aklan Polytechnic College; Cebu State College of Science & Technology, and Holy Cross of Davao College.

DBP will also partner with two more principals -- Magsaysay Shipping Lines and Klaveness -- to assure employment for its DEEP graduates.

Launched in 2008, the DEEP initiative grants financial assistance to qualified scholars who graduated in the top 20% of their high school graduating class. A 10-year program with P1-billion in funding, DEEP's scholarship assistance covers the whole range of a scholar's requirements, including cost of living and allowances. On its first year of implementation, DEEP supported more than 100 nursing students. Last year, more than 360 scholars were selected to enroll in technical/vocational and maritime courses with assistance under the program.

DEEP scholars belong to families with annual incomes not exceeding P150,000. Most of them are children of farmers, laborers, drivers, teachers, housewives, electricians, mechanics, vendors, retired policemen, and soldiers. (PIA-MMIO) [top]

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