The board of directors of Center-invest Bank has approved an increase for the “Education and Science of the South Federal District” Endowment Fund up to 207 million rubles. The endowment fund accumulates capital to generate an income that will be used to resolve such socially important issues, like development of education and science in southern Russia.
The “Education and Science of the Southern Federal District” Endowment Fund, the largest of its kind in southern Russia, was created in 2007 by Center-invest Bank and private donators. Its average return on endowment is 9.75%. Total payments from 2007 to 2021 amount to 103.6 million rubles.
The increase of the “Education and Science of the Southern Federal District” Endowment Fund is due to the practical realisation of the “Responsible Banking in the New Realities” strategy, developed by the bank for its clients: the population, businesses and authorities in southern Russia; as well as the results of clients’ surveys and regional trends in the digital capital development.
“To carry out the domestic restructuring and to build the new global world order, we need specialists with practical experience, knowledge of the best global practices and the ability to respond creatively to new challenges. We need talents!”
Every year Center-invest Bank and the “Education and Science of the Southern Federal District” Fund award scholarships and grants, totaling over 8 million rubles. Over 21,000 students from 17 leading higher education institutes of the Krasnodar Territory, Rostov and Volgograd Regions, Nizhny Novgorod, Astrakhan, and the Republic of Adygea took part in the Fund competitions. 5,400 people received personal grants from the bank for a total amount of 94.7 million rubles.
The winning students nominated 1,900 of their mentors to participate in the Best Young Teachers competition. As a result of this competition, our grants worth 8.9 million roubles were awarded to more than 100 specialists.
For 30 years, Center-invest Bank has been successfully implementing social and educational projects aimed at developing the current and future generations, and has been supporting programmes to develop youth initiatives and to improve the quality of education in Russia.