Financial Aid for International MBA Programs

Since 1995, ABN AMRO Bank and the European Bank for Reconstruction and Development (EBRD) have been financing MBA students from Central and Eastern Europe and Central Asia in top Western business schools.

By the end of 1999, close to EUR 8 million will have been disbursed for the MBA loan program. "Investing in an International MBA" started with 7 students and has more than 100 students benefiting from the loans in 1999, reaching 220 in total. The scheme allows students to pay for tuition fees out of their future income. The scheme is regarded as a success by the students, participating business schools, the EBRD and ABN AMRO. With students from 18 countries, the program provides a valuable source of training for future leaders in finance, business and industry.

Participating business schools include INSEAD (which is one of the founders), Barcelona-based IESE, the London Business School, University of Michigan Business School, and the Rotterdam School of Management.

The one major stipulation of the program is that all students who benefit from the loans have to make a commitment to return and work in their region within a given period of time. This guarantees that the Western know-how and business culture is transferred back to the region.

ABN AMRO and the EBRD share equally the risk associated with the program and require no security from the beneficiaries. Both banks see great value in extending the banks activity in the region beyond traditional investment in tangible assets. The loans are repayable over 13.5 years and affordable in view of attractive starting salaries these young people are offered by their employers. After 4 years of the program, 90 students have graduated and 46% have already returned to Central and Eastern Europe. For further details, go to: http://www.mbafinancing.com