MANILA — An increase of support in terms of research and programs being undertaken by faculty members of the University of the Philippines (UP) has been provided by one its alumni who donated PHP 20 million to boost the national university’s research field.
Regent Magdaleno B. Albarracin Jr., and his family have donated the said amount to UP which is only the first half of his PHP 40-million pledge.
The PHP 20-million donation will benefit UP Diliman’s Cesar E.
A. Virata School of Business through the establishment of a faculty development and research endowment fund.
Albarracin is said to have donated the said amount to the university for “shaping [him] into what [he] is today.”
Meanwhile, UP president Alfredo E. Pascual has expressed his gratitude to Albarracin for his latest contribution to the university as well as for his donations in the past.
Pascual has even described him as a “loyal and ever supportive son of UP” who exemplifies “[unselfishness] for the common good” citing the words of UP’s first President, Murray Bartlett.
Albarracin has dedicated his donation to former College of Business Administration Dean Cesar Virata whose leadership has enabled him and other faculty members to obtain their graduate degrees abroad.
The alumni was able to get his graduate degree in Harvard University.
Aside from support to be given to research programs and projects, the endowment fund will be used to augment the costs of sending faculty to pursue their doctoral and post-doctoral degrees and for the recruitment of faculty members who are PhD degree holders from here and abroad.