IMMDF, AUIS Announce New Scholarship Program

Monday, February 6, 2017 - 13:45

 

Press Release

IMMDF, AUIS Announce New Scholarship Program

Students to be trained in development finance relevant to the region

February 6, 2017 - Sulaimani (KRG, Iraq): The Iraq Middle Market Development Fund (IMMDF) will provide two full year scholarships for students interested in and committed to development, finance, business and entrepreneurship at The American University of Iraq, Sulaimani (AUIS).

The partnership agreement was signed at AUIS today in a ceremony attended by officials from IMMDF, AUIS faculty members and students, and the U.S. Consulate General in Erbil. The agreement was signed by IMMDF General Manager Jorge Vila and AUIS President Bruce Walker Ferguson. The U.S. Consul General Ken Gross was also in attendance.  

Through this partnership, IMMDF will deliver a five-week credit seminar on principles of development finance, free of charge, to AUIS students. The goal of the seminar is for AUIS students to learn business skills relevant to employers and for IMMDF to increase the level of development finance expertise in the region. Two students who perform exceptionally well throughout the course will receive a full scholarship, funded by IMMDF, for their final year of study at AUIS.

Speaking at the occasion, Mr. Vila said, “AUIS and IMMDF have been cooperating for a long time. AUIS students were among the first to join IMMDF’s Internship Program in 2012. We are delighted at this new opportunity to increase our cooperation with AUIS and we look forward to sharing with AUIS students the lessons learnt by IMMDF through our 11 years financing Iraqi small and medium size companies to create employment and economic growth.”

This innovative university-industry partnership adds depth to the AUIS curriculum in ways that will greatly benefit the region,” said President Ferguson at the signing ceremony. “By developing our students’ skills in vitally needed areas, the new program helps to build local capabilities that address urgent development needs. We commend IMMDF for its generous support of our students and for its creative approach to meeting the challenges that confront Iraq and its Kurdistan region.”

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The Iraq Middle Market Development Foundation (IMMDF) was created in 2004 to finance projects of Iraqi private small and medium size enterprises (SMEs) that generate employment and economic growth in Iraq. IMMDF has been financing SMEs in Iraq since 2005 to the tune of US$ 120 million, disbursing loans to a total of 53 Iraqi companies and in the process creating nearly 2,000 direct jobs and many thousands indirect jobs at suppliers and clients of IMMDF borrowers. 

Established in 2007 as an independent, not-for-profit institution, AUIS is dedicated to providing a comprehensive liberal arts education for the benefit of young men and women from Iraq, Iraqi Kurdistan, and the wider region. The University’s 1,600 students develop a responsible character with the knowledge and skills needed for professional and national leadership. AUIS graduates are in high demand, with most employed in the private sector by prestigious international and local companies. More than 80 percent of our alumni are either employed or enrolled in top-tier graduate programs around the world.

For more information, please contact:

  • Bzhar Ali Boskani, AUIS Media and Public Relations Adviser at bzhar.ali@auis.edu.krd or 964(0)770-152-1893.
  • Jorge R. Vila, IMMDF General Manager at jvila@immdf.org or +964-770-502-4932