Ministry of Education and Science, in cooperation with the President's Cabinet and International Faculty of the Thessaloniki-based City College, a part of the UK Sheffield University, signed Monday a protocol on providing 20 scholarships "Boris Trajkovski" for two-year master studies within the business administration program.

Scholarship beneficiaries will be selected at a contest announced by the Ministry of Education and Science, whereas the selection will be carried out by the institutions-protocol signatories.

The scholarships, funded by the Government and the Sheffield University, cover enrollment means, with travel, accommodation and living costs are to be covered by the selected candidates.

President Gjorge Ivanov stressed the scholarships are intended for students who have shown outstanding commitment to studies and work.

"These scholarships are part of the collective motivation and support that the country provides for the best students to resume on the road of success. Their success is a success of our society in general", added Ivanov.

International Faculty principal Yannis Ververidis said the scholarships would provide the beneficiaries with top-class education in the MBA field.

"The scholarship gives the opportunity to 20 top managers from the country to acquire cost-free education. The Sheffield University is ranked among the 70 world-famous universities, assuming 20th spot in Europe. I am proud of each student who has graduated from our university, because they have important jobs and largely contribute to the economic development of their society, the state and the region in general", added Ververidis.

Education Minister Todorov stressed the creation and upgrading of young scientific-research staff in the MBA field, followed by their employment after completion of studies, is one of the measures for prevention of the brain-drain.

The Sheffield University has three branches in the region - Thessaloniki, Belgrade and Bucharest - with approximately 400 managers who annually attend the MBA studies.