About 500 college students nationwide will benefit from the PHP96.75-million allocated for the second year of implementation 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.

The SUCs 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, in turn, 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 accountancy, education, engineering and related fields, agriculture and forestry, science, maritime, information technology, and technical-vocational.

DBP President and Chief Executive Officer (CEO) Michael de Jesus said the state-owned bank’s corporate social responsibility (CSR) program aims to help students who need financial assistance to finish college.

“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,” he told journalists after the ceremonial signing ceremony at the bank’s main office in Makati City.

Meanwhile, de Jesus said that, while they have several CSRs, the bank remains committed to its mandate to finance the requirements of agricultural and industrial enterprises, including micro, small, and medium enterprises (MSMEs).

In an interview with the Philippine News Agency, de Jesus said loans to MSMEs account for around 8 percent of the bank’s total loan portfolio.

“Maybe over time it may be increased to about 8 percent to 10 percent,” he said, noting 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.” (PNA)