Launching 2023 with renewed focus in the fight against educational poverty
In line with its new Purpose focused on youth and education across Europe, UniCredit Foundation has granted a total of €2,450,000 to support projects aimed at combating school dropout, enhancing employability, and encouraging university attainment for the continent's youth.
Specifically:
- €1 million dedicated to Call for Education, an initiative launched by the Foundation at Group level to fund projects that fight educational poverty, are carried out by non-profit organisations in Italy, Bulgaria, and Romania, and focus on combating school dropout, acquiring appropriate skills for obtaining university degrees and entering the labour market, for lower and upper secondary school students (age group 11-19).
- €225,000 assigned to two new research projects on the topic of education: "Addressing Inequalities in High-School Track Choice in Italy", a two-year initiative in collaboration with Harvard University and Bocconi University and "The Effects of Attending a Higher Value-added High School in Romania", a one-year project carried out in collaboration with Columbia University and the Ministry of Education of Romania.
- €1,225,000 allocated to award scholarships for European university students and researchers. Talent and merit based, these grants are dedicated to support PhD studies abroad and to favor brains gain across all UniCredit geographies.
Andrea Orcel, Chairman of UniCredit Foundation, commented:
"We are proud of UniCredit Foundation's important work and continued strong commitment to supporting our youth. This is evident through the Foundation's various dedicated initiatives aimed at promoting study and research opportunities across our countries. Education is a key driver for Europe's future, and it is our responsibility as a European institution to constantly identify and support our young talents, those who will lay the foundation for our continent's progress and success in the years to come. This is part of our Purpose to constantly empower our communities to progress forward, in line with our Bank's ESG commitment and strategic plan."
Silvia Cappellini, General Manager of UniCredit Foundation, said:
"Early school dropout and the failure to acquire adequate skills for continuing university studies or entering the world of work are widespread phenomena in most of the countries where the Group operates. This is due to several factors but depends to a large extent on the socio-economic and cultural conditions of the families and territories in which children are born and grow up. Schools represent an essential safeguard in the fight against inequality, and we believe that only a quality school can give equal learning opportunities to all students and, above all, to the most disadvantaged ones. Therefore, we are committed and work every day to expand youth horizons, help them move forward successfully in their academic careers and make sure no one is left behind."
Over the past 10 years, the UniCredit Foundation has granted more than 300 scholarships and fellowships to support nearly 1,200 young students and researchers, with total funds amounting to €22.5 million, distinguishing itself as an institution of excellence both at Italian and European level.
Milan, 15 February 2023
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