Makati city: About 500 college students nationwide will benefit from the PHP96.75-million allocated for the second year of the DBP Integrated Scholastic Program for Inclusive and Responsive Education (DBP-INSPIRE) this year. The students, enrolled in six state universities and colleges (SUCs) and five private higher education institutions (HEIs), must be enrolled in courses aligned with the Philippine Development Plan (PDP) 2023-28.
According to Philippines News Agency, the SUCs participating in the program include the Pamantasan ng Lungsod ng Maynila, Cebu Normal University, West Visayas State University, Mindanao State University-Tawi-Tawi College of Technology and Oceanography, Mindanao State University Iligan-Institute of Technology, and the Jose Rizal Memorial State University-Dipolog. The private HEIs involved are the University of Baguio, STI Education Services Group, Cebu Institute of Technology-University, Notre Dame of Marbel University in the City of Koronadal, South Cotabato, and the Holy Child Central Colleges Inc. in South Cotabato.
Qualified students are those enrolled in fields such as accountancy, education, engineering and related fields, agriculture and forestry, science, maritime, information technology, and technical-vocational studies. DBP President and Chief Executive Officer (CEO) Michael de Jesus emphasized that the state-owned bank's corporate social responsibility (CSR) program aims to assist students requiring financial support to complete their college education.
Michael de Jesus explained, "It's a lot of fulfillment, and we know it's important. So, we want our students to concentrate on studying. That's the whole point. We pay for their tuition, out-of-pocket expenses, so they can really just concentrate on studying," during a ceremonial signing ceremony at the bank's main office in Makati City.
While discussing the bank's broader commitments, de Jesus mentioned that, despite having several CSR initiatives, DBP remains dedicated to financing the needs of agricultural and industrial enterprises, including micro, small, and medium enterprises (MSMEs). In an interview, he noted that loans to MSMEs comprise approximately 8 percent of the bank's total loan portfolio. He indicated the possibility of increasing this share to about 8 percent to 10 percent in the future, acknowledging that "even though the absolute amount is increasing, as a percent of total loans, it's still the same .(because) the denominator is growing bigger."
