Sunday, March 18, 2012

IOTC supports DBP Endowment for Education Program (DEEP)

The Development Bank of the Philippines (DBP) has established the DBP Endowment for Education Program (DEEP) to grant financial assistance to deserving high school graduates who have performed well academically but are financially challenged as the come from the ranks of underprivileged Filipino families.

In search of a continuing supply of top-caliber and highly qualified manpower support for crew operations and as part of its Corporate Social Responsibility, Island Overseas Transport Corporation (IOTC) applied with DPB as its eligible program partner.

On its 3rd year of implementation, the DEEP is supporting a total of 858 Scholars in various courses. Over 50% of scholars are into maritime education to support the huge demand for Filipino seafarers.

Qualified applicants will have to pass all qualification requirements of IOTC prior to interview by the DEEP Project Team and or designated representative.  

Click to View Informational Flyers: DEEP Scholarship Qualifications and Requirements 
Click to Download Application Form here: DEEP Application Form 


DEEP Background Information

An elite and highly skilled professional human resource base is critical to productivity. Educated for nation building and wealth creation, 90 million strong Filipinos is an enormous, untapped opportunity. Neglect of this potential and a very meager public investment in human capital has resulted to grinding poverty, joblessness, lack of national pride and sense of civic duty. Our poor are trapped in a vicious grip of poverty that must be broken with every possible reduction strategy. The level of our country’s development being a direct result of our dismal failure to make available the highest possible standards of quality education

The DBP Endowment for Education Program (DEEP)


Funded by a P1 billion seed fund from DBP’s income, DEEP is DBP’s contribution to the global initiative in Corporate Social Responsibility, a direly needed response to bring major development intervention. Designed essentially as a poverty alleviation strategy, DEEP supports a nationwide investment to develop the country’s human capital. Educational opportunities are made available to the best and brightest but marginalized high school graduates while strengthening institutional relationship with Program partners. In creative collaboration with selected partners, our youth are molded into honest, responsible, empowered, productive and competitive global citizens. On the premise that labor is the most important asset of the poor, DEEP shall produce a pool of qualified and highly skilled professionals to serve the needs of the local and global job markets.

Endowment

Priority focus on quality is an overriding consideration to institute improvement at all levels. The DEEP’s endowment, equivalent to the upfront full payment of tuition, enables partner institutions to hire more professional and competent teachers, build more classrooms, improve facilities and undertake upgrading of educational standards.

Employment

To close the loop, a stringent selection process involves the participation of Principals/ Employers in the prequalification, assessment and selection of Scholars. Employer standards are simultaneously satisfied to prevent the mass production of graduates who only swell the ranks of the unemployed. The gaps between academic skills and employer qualification are also effectively addressed. Supporting the DEEP are German, Japanese, Norwegian and local employers who actively collaborate in DEEP implementation.

Selection of Program Partners

Broad based and innovative partnership with a wide range of stakeholders enables the DEEP to fast track and more aggressively pursue DBP’s commitment to achieve the greatest possible development impacts. To institutionalize the principle of continuing excellence at all levels, DEEP Partners undergo a rigid process of selection in accordance with the Program’s guidelines. Scholars are chosen based on high school academic performance and family income level. Schools are selected based essentially on the following measures:
  • Proven level of excellence
  • Geographic Location
  • Tie up with Employers/Manning Companies
  • School classification as State or Private Institution
  • Good governance practices and transparency of school officials
  • Partner’s policy of attracting /assisting indigent students
  • Need for endowment to improve school facilities and educational standards  Standard of academic/skills training, facilities, amenities, services
  • Innovative practices as hubs of educational excellence.
  • Absorptive capacity for DEEP beneficiaries
  • Observed level of support, commitment and confidence of school to guarantee skills training and employment of DEEP graduates
  • Strong support for an effective, efficient and sustained DEEP implementation
Geographic Dispersal of Institutional Partners

 
Paying Forward

Sustainability is a key word in creating a positive and meaningful social intervention. After DBP’s projected exit from t he DEEP in 2018 when its P1 billion seed fund has been fully disbursed, the DEEP’s initiatives shall be sustained by the voluntary contribution of Program beneficiaries to the DEEP Scholars Association (DEEP SA). The DEEP’s operative principle of paying forward requires Program beneficiaries whose lives have been improved to support future batches of more indigent scholars. This same strategy also constitutes our major campaign to discourage mendicancy by introducing a paradigm shift from the dole out mentality thereby teaching Program beneficiaries to view grants with equivalent responsibility/accountability.

Banking On The Youth

Having identified priorities and strategic areas for assistance, DEEP has carefully aligned support according to the needs in human resource development that support growth, expansion of skills and competencies necessary for inclusive progress. Resources are channeled to strategic areas of assistance that will make a distinctive contribution and generate the greatest development impact. Course offerings are thus limited only to easily employable disciplines in select partner schools.

Values Formation

Values Formation revolves around DBP’s core philosophies on continuing excellence, good governance and environmentalism. The DEEP Philosophy teaches lessons in gratitude and the adoption of the pay forward principle. The DEEP takes the lead in uplifting levels of behavior, raise the standard of values and principles, promote a culture of excellence, live a legacy of good citizenship and good governance practices.

Future Directions

Mostly eyeing overseas employment, DEEP beneficiaries are taught to harness their skills and experiences not only for themselves and their families but also for the country’s benefit. They are trained to bring in fresh insights that contribute to better productivity. Families participate in Values Formation as a mitigation measure for the social costs of migration. Participants are guided on the basic principles of keeping the family together while their breadwinner toils for survival. Technical advisory are made available on the management of hard earned resources thru the offering of DBP’s deposit products, investment services and remittance facilities.

Maritime and technical/vocational courses have provided excellent models for a continuing DEEP implementation presenting the best possible option for the greatest development impact. To match the precise needs of the job market and to help the most number of unemployed, DEEP resources are channeled into developing competencies and skills for the much needed employment. As a mechanism for giving underprivileged Filipino youths the opportunity to improve their lives and make a contribution to nation building, the DEEP undertakes to break the vicious cycle of poverty among our marginalized countrymen.

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Citation: 
» DBP Development Programs. Monthly Publication of Program Development. Issue No. 8-2010
» DBP Website. [Retrieved 19 March 2012]

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