The Bank of the Philippine Islands, through the BPI Foundation, is set to rebuild and rehabilitate schools and houses in areas struck by super typhoon Yolanda last month, using proceeds raised in a matched fund-raising campaign by the bank and its employees.
Under the fund-matching campaign, dubbed “10+10,” the Bank promised to match the donations made by its employees peso-for-peso if they reached P10 million. In a little over two weeks, BPI employees raised P11,491,284.60, resulting in a combined donation of P22,982,569.20 from the Bank and its employees.
Of this amount, P10 million will be allotted for building 2-storey, 4-classroom school buildings in the devastated areas. These school buildings follow the architectural plan already being used by the foundation in similar rebuilding efforts in Cagayan de Oro. This Misamis Oriental city was hit by massive floods triggered by typhoon Sendong back in December 2011, leaving residents displaced and structures wiped out.
The houses, on the other hand, will be built first for teachers whose houses were destroyed by the typhoon. Each house is estimated to cost P200,000.
In the past, the Foundation had partnered with the Department of Education for the building of school houses, and Habitat for Humanity to build homes for the needy.
As of Friday, December 13, the Foundation had also raised another P11 million from individuals and organizations outside the Bank for the rehabilitation efforts.
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