Security Bank and MUFG Bank Ltd, together with other MUFG companies and strategic partners in Asia, have pledged approximately Php 183 million to support Southeast Asian students in Japan who are facing economic difficulties during the COVID-19 pandemic.
The multimillion education fund will be distributed evenly across four beneficiaries, namely Thai Students’ Association in Japan, Embassy of the Republic of Indonesia in Japan, Association of Filipino Students in Japan, and Embassy of the Socialist Republic of Vietnam in Japan. It will provide much needed financial aid to offset the economic hardship of students due to the COVID-19 pandemic.
“We are very grateful for the help extended by MUFG Group of Companies, with Security Bank as their local Filipino bank partner,” said Patrick Razo, President of the Association of the Filipino Students in Japan (AFSJ). “This will help our students continue and focus on their education without worrying about whether or not they can afford to.”
Security Bank has long been committed to supporting the education of the Filipino youth. Despite the COVID-19 pandemic, Security Bank continues to invest in providing means for students to continue learning.
“Security Bank welcomes opportunities that allow us to extend our education advocacy to Filipino students in Japan,” said Takashi Takeuchi, Executive Vice President & Head of Alliance Segment, Security Bank. “Through this donation drive, we are able to take the financial burden away from the beneficiaries so they can focus on their studies.”
Security Bank is among MUFG’s strategic partner banks, joining esteemed financial institutions within the MUFG network such as Bank of Ayudhya, or Krungsri, in Thailand, Bank Danamon in Indonesia, and VietinBank in Vietnam. Security Bank and MUFG have a longstanding partnership together and have collaborated on several business initiatives and corporate social responsibility projects.
“Just as we are working closely with clients to build resilience in their businesses during these trying times, we hope that this support package will not only provide some measure of relief to students in need but demonstrate our long-term commitment to the deepening of bilateral ties between Japan and key Southeast Asian markets in the MUFG network,” said Yuichi Yamagishi, Managing Director and Country Head, Manila Branch, MUFG Bank, Ltd.
Security Bank is one with the nation in providing e-learning access to Filipinos through partnerships with 88Tuition, Edukasyon.ph and Knowledge Channel. The bank is with every Filipino in overcoming the pandemic and believes that together, we can get better.
MUFG’s long term mission is to drive sustainable growth for both clients and the communities in which it operates. It unveiled an Environmental and Social Policy Framework in 2018 to better understand, address and integrate environmental and social considerations into its business strategy and in the subsequent year, pledged a total of JPY20 trillion to support the sustainability-financing needs of clients by 2030.
This student fund is also the latest in MUFG’s ongoing support towards Japan’s relief efforts. Previously, MUFG has donated a cumulative total of JPY2.5 billion that would go towards a variety of causes ranging from supporting healthcare workers and needy students to the resumption of cultural activities in the country.