/ 23 April 2022

TO PROVIDE more students the chance to continue their education, the Development Bank of the Philippines will launch its fourth batch of scholars under its Resources for Inclusive and Sustainable Education scholarship program.

DBP President and Chief Executive Officer Emmanuel Herbosa said that the scholarship program is the bank’s flagship corporate social responsibility initiative.

Under the program, 510 deserving students from poor families will be able to pursue tertiary education in 10 Higher Educational Institutions.

“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,” the official said.

The DBP RISE 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, the bank partnered with four private HEIs and six state colleges and universities.

These are the 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.

These schools will screen prospective scholars.

An endowment fund shall be released to partner schools to cover the scholars’ tuition, with a student support fund to cover other expenses including the cost of apprenticeship, residency training, 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.