Saturday, 9 May 2009


MUSCAT, Oman—State-owned Development Bank of the Philippines (DBP) won the Development Award for Most Outstanding Corporate Social Responsibility Project for its DBP Endowment for Education Program (DEEP) during the annual Association of Development Financial Institutions in Asia and the Pacific (ADFIAP) Awards held here on April 28 at the Shangri-La Barr Al Jissah Resort and Spa.

DEEP is a 10-year program of DBP with a total funding of P1 billion.

Through the program, DBP provides financial assistance to qualified and deserving underprivileged high-school students who wish to pursue college education. 

DEEP scholars come from families with annual income not exceeding P150,000 and graduated in the upper 20 percent of their high school class. 

“We have always taken pride in our corporate social responsibility [CSR] that is embedded in the core of our mandated developmental role. And this recognition only affirms that we are on the right track in our serious efforts to make our CSR initiatives work for the benefit of more and more people in need of urgent and responsive interventions,” DBP president and chief executive officer Reynaldo David said.

David added that DEEP is one of the bank’s most significant CSR undertakings that taps a crucial and one of the most widely known forces of development—education. 

Launched last year, the first batch of DEEP scholars consisted of 120 nursing students enrolled in seven partner-schools nationwide. 

Most of these scholars are children of farmers, laborers, drivers, teachers, housewives, electricians, mechanics, vendors, retired policemen and soldiers.

“The impressive academic performance of the first batch of DEEP nursing scholars has definitely given us further inspiration to carry on with the program. More than 60 percent of our 120 nursing scholars achieved a grade point average of 90 percent and above for their first year performance. The scholars have indeed, shown that given the chance and the needed assistance, they certainly can develop and make full use of their potential and set out to eventually rise above their circumstances,” David added. (

DBP AwardsDBP President and Chief Executive Officer Reynaldo G. David (right) receives the Most Outstanding Corporate Social Responsibility Project award from Oman Development Bank chairman H.E. Al Fadhal bin Mohammed bin Ahmed Al Harthy. At left is ADFIAP chairman Fuimaono Falefa Lima.


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