The Development Bank of the Philippines (DBP) granted a P195-million term loan to a San Juan City-based educational institution to fund a six-story building for its permanent offices and school.
The bank’s assistance to the Community of Learners Foundation, Inc. (COLF) was made under the bank’s flagship Education Sector Support for Knowledge, Wisdom and Empowerment through Lending Assistance program, or DBP ESKWELA, DBP President and Chief Executive Officer Emmanuel G. Herbosa Thursday, (April 29) announced.
COLF is a 38-year-old inclusive educational institution with a progressive approach in “experience-based, interdisciplinary and collaborative setting”.
The school teaches students from two to eighteen years old.
Its decentralized classrooms feature interest centers as well as work and play areas catering to a diverse student population.
Under the DBP ESKWELA program, local government units, private and public educational institutions, accredited training centers, and other institutions can avail of loans for capital expenditures, working capital and onlending to students through borrower-schools.
Already, DBP has approved a total of P10.66-billion to 154 borrowers for the construction of over 400 school buildings and 3,500 classrooms nationwide, as of end 2020.
“We are excited to be a developmental partner of COLF which is among the pioneers in the progressive approach to education in the country,” Herbosa noted.
“DBP prioritizes support to initiatives which invest in human capital growth as a driver of sustainable socio-economic development.”
Furthermore, the bank “will continue to align its programs for the education sector with the National Government’s vision of transforming the country’s human capital”, the President pledged.
The commitment is in line with the Philippine Development Plan for 2017-2022.