THE Department of Education (DepEd) yesterday announced that SM Prime Holdings Inc., SM Foundation Inc., and Deutsche Bank are shelling out some P9.7 million for two projects that will construct fully furnished school buildings under the DepEd’s Adopt-A-School program.

Education Secretary Jesli Lapus said the donation will alleviate the need for additional classrooms especially in far-flung areas. ‘I am buoyed by the enthusiasm of companies like SM and Deutsche Bank in providing for the education needs of our children. It goes to show that the much renowned Filipino spirit of Bayanihan is very much alive in the hearts of our partners for education,’ Lapus said after signing the memorandum of agreement with SM and Deutsche Bank officials.

SM Prime and SMFI will team up in the first project that will build two classroom-one storey buildings each for seven schools worth P7 million. The structures will include toilets, desks, blackboards, ceiling fans estimated to cost P1 million per school building.

Beneficiary-schools are Mabalacat Community High and Sapalibutad Elementary in Pampanga; Irisan National High and Pinsao National High in Baguio; Vagres Elementary and Mintal National High in Bacolod; and Mintal National High Tubok Annex in Davao.

In the second project, SM Prime, Deutsche Bank and SMFI will underwrite the construction of a 4-classroom, 2-storey school building with furniture and equipment at the Bacoor National High and the Molino/Burol Annex in Cavite. The donation is worth some P2.7 million.

Lapus said construction of the two projects will begin later this month and be completed by January 2009.

SMFI had previously donated 2-classroom school buildings to seven schools in Cagayan de Oro, Pampanga and Quezon, and the renovation of a 3-classroom school building in Bulacan.

Present at the MOA signing were Carmen Linda Atayde and Deborah Sy, SMFI executive directors; Felicidad Sy of SM Prime Holdings’ board of trustees; Mylene Caparas, head of Deutsche Bank’s Corporate Banking Coverage and Global Transaction Banking, and Manuel Vidad, Adopt-A-School’s Finance and Administration manager.