DepEd, SM Foundation, Deutsche Bank tieup yields P17 M for more classrooms in provinces

MANILA, Philippines - The Department of Education (DepEd) yesterday signed a memorandum of agreement with SM Foundation and Deutsche Bank to pool P17 million to finance the construction of classrooms in various provinces.

Education Secretary Armin Luistro said there is a huge gap in resources in the country’s public school system that assistance from private firms is welcome.

DepEd aims to fill the backlog in classrooms by 2013.

The agreement was signed between the Department of Education (DepEd), Deutsche Bank, SM Foundation, Inc., BDO Foundation, Inc. and SM Prime Holdings, Inc. at the DepEd Central Office in Pasig.

The agreement between DepEd and SM Prime involves the construction of a two-story school building with four classrooms and toilets in Dasmariñas, Cavite; six units of one-story buildings with two classrooms and a toilet each in Davao City and General Santos City; two units in Pampanga; one in Sariaya, Quezon, and one in Cebu City.

The donation will also include armchairs, teacher’s tables and chairs, wall fans, blackboards and signage. The total project cost is P10.8 million.

SM Foundation executive director Debbie Sy said the construction of school buildings will start in the first quarter of 2012.

“We are hoping to complete the construction before the year ends,” she said.

SM Prime and Deutsche Bank, on the other hand, pooled P2.150 million each to build a one story building with two classrooms in San Jose del Monte, Bulacan and a two-story building with four-classrooms in Barangay Tanza, Navotas City.

Meanwhile, SM Prime and BDO Foundation will build single- story four-classroom school building with toilets worth P2.2 million in Banisil National Highschool in Barangay Tambler in General Santos City. It will be furnished with armchairs, teacher’s table and chair, wall fans, blackboards and a signage.

Luistro said these agreements will fall under the Adopt-A-School Program which encourages participation by the public sector.

SM Prime, BDO Foundation, SM Foundation and Deutsche Bank are part of the private sector-led Bayanihang Pampaaralan of the 57-75 Movement which seeks to raise resources for the construction of 10,000 classrooms within two years.