HSE Endowment Fund to Include New Endowment Fund for ICEF
An Endowment for the Development of the International College of Economics and Finance (ICEF) has been created within the HSE Endowment Fund to provide financial support for the ICEF’s long-term projects. Thanks to the endowment, the ICEF will also be able to direct more funds to research and expand the range of opportunities for the professional and personal growth of its students.
What is the HSE Endowment Fund?
Like any major international university, HSE has a financial endowment (the HSE Endowment Fund), which serves as an independent financial ‘cushion’ for the University. It was created in 2007 by three of the University’s founders – Alexander Shokhin, Evgeny Yasin, and Yaroslav Kuzminov.
Endowment Fund of HSE University
Combined total of HSE’s seven endowment funds as of October 31, 2019
The HSE Endowment Fund finances and ensures the development for the University’s most important projects. The fund is currently comprised of seven funds which each provide support for initiatives and activities such as university development, student mobility, research, and more. It can also finance new initiatives (such as drawing up design proposals for the construction and renovation of campus buildings, for example), for which it is difficult to secure funds from traditional sources. The new Endowment for the Development of the ICEF will be the eighth section of the University’s endowment.
Why is the ICEF Receiving its own Endowment Fund?
The HSE International Institute of Economics and Finance, founded on the basis of a collaborative agreement between the London School of Economics (LSE) and HSE, is one of the leading centres for research and education in economics and finance in Eastern Europe. The endowment will help the ICEF continue to maintain its status as a centre of academic excellence and bolster its profile as a member of the global academic community.
The new endowment fund will allow the ICEF to provide more opportunities for the professional and personal development of its students and direct more funds to advanced research.
The first donor of the ICEF endowment was AO UniCredit Bank.
The main objectives of the ICEF endowment fund are:
to create sustainable long-term sources of financing for the academic development of the institute;
to provide financial support for world-class research;
to maintain the infrastructure of the Institute and ensure the accessibility of its programmes to all students, regardless of family income.
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