PASIG CITY — The Department of Education (DepEd) and the Land Bank of the Philippines (LBP) signed a Memorandum of Understanding (MOU) to fund classroom repairs in 12 disaster-hit schools. The partnership, led by DepEd Secretary Sonny Angara and LBP President Lynette V. Ortiz, commits Php 500,000 per school over two years.
In addition, LBP’s subsidiaries, Leasing and Finance Corporation, and Resources and Development Corporation, pledged an extra Php 1 million in funding and construction support.
As part of its Corporate Social Responsibility (CSR), LBP will also mobilize its employees as volunteers in the repair efforts. Ortiz highlighted plans to engage other banks in supporting DepEd’s Adopt-a-School Program to boost education services nationwide.
Key officials from both organizations, including members of the DepEd Executive Committee, attended the signing ceremony.