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18.10.2013

Endowment funds capital exceeds RUB100m

Thanks to new donations from individuals, the capital of the Endowment Fund for Education and Science in the Southern Federal District has been increased by RUB2m and now stands at RUB100.5m. The income from the fund is used to support social and educational projects for students, young academics and teaching staff in southern Russia.

The Endowment Fund for Education and Science in the Southern Federal District (SFD) was established in the summer of 2007 on the initiative of Center-invest Bank. The endowment fund is a practical and effective financial instrument that allows businesses to benefit from supporting education and science in southern Russia.

An endowment fund’s capital comprises capital contributed by its founders, individual donations, and money raised through fund-raising. The Endowment Fund for Education and Science in the SFD finances a long-term programme through which all interested parties, including businesses, can pool their efforts to support education in southern Russia on the basis of best international practice.

In partnership with the Endowment Fund, Center-invest Bank has run a scholarship competition since 2003 to reward the best students in the region for their academic successes and civic engagement. To date, more than 2000 students have received a scholarship.

Former scholarship winners have gone on to work for leading companies in southern Russia, become successful academics, and set up their own businesses. Center-invest Bank continues to build on its programme to support young entrepreneurs, including through its partnership with the International Business Leaders Forum.

A total of 2119 applications were received for the 2013 Endowment Fund scholarship competition from students in the Rostov and Volgograd regions and Krasnodar Krai.

Applications may be submitted by full-time students who meet any of the following criteria: last two academic sessions passed with high marks, winners of academic competitions, engaged in socially useful activities.

The award ceremony for this year’s winners of the Center-invest Bank scholarship competition will be held on 18 December in the M. Gorky Rostov Academic Theatre. As has become traditional, the evening will end with a student ball.

Detailed information about the fund and the scholarship programme can be found at www.education.southofrussia.ru.