Press Release

OPEC Fund launches Scholarship Scheme

120/2005 December 5, 2005, Vienna, Austria
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The OPEC Fund for International Development in Vienna, Austria, has announced the launch of an Annual Scholarship Award program to assist students pursue their career on a development-related discipline. The recipient, who should be a mid-career professional from a developing country, will receive a scholarship of up to US$100,000, spread over a maximum of two years, toward the completion of a Master's degree, or its equivalent, at an accredited educational institution, starting from the academic year 2006/07. Commenting on the Scholarship Scheme, the OPEC Fund Director General, Mr. Suleiman Al-Herbish, said that:

"The Scholarship Award aspires to contribute to the continued efforts undertaken by other global aid agencies toward creating a new cadre of highly qualified and skilled human resources in the eligible countries. It also recognizes distinguished and promising candidates with a great potential to make a positive change in their own countries. Furthermore, the Fund has the intention of making this Scholarship one of the highly prestigious awards by identifying and nurturing outstanding students and young employees."

While organizations, including public and private agencies and educational institutions are encouraged to nominate qualified candidates, individuals are similarly urged to apply. The Scholarship will be awarded to a potential candidate meeting all of the following requirements:

• A mid-career professional with a Bachelor degree nominated by his/her employer. The candidate should exhibit excellence or have a track record of significant contribution to development in his/her own country.
• From an eligible developing country.
• Have received admission to a Master’s program of up to two years from an accredited academic institution of his/her choice, including those in OPEC Fund Member Countries. This institution must be recognized by the applicant’s own country. The letter of admission must specify the student’s intended field of study and a satisfactory fulfillment of academic prerequisites, including language proficiency. The student is expected to select a subject matter that pertains to the OPEC Fund’s core work, mission and over all objectives. This will include: sustainable development, economics of developing countries, poverty reduction, and science and technology fields.
• Commitment to return to his/her home country at the end of the period.

For full details please visit: www.opecfund.org, or contact scholarship@opecfund.org