Kathmandu / Laxmi Bank has signed an MOU with Kathmandu University today to establish scholarship for women who wish to pursue a Master’s or a Ph.D. degree in STEM subject at Kathmandu University (KU) Nepal.
The agreement was executed
by Ajaya B. Shah, CEO, Laxmi Bank and Prof. Dr. Bipin Adhikari, Coordinator of
Endowment Drive, Kathmandu University.
Through the
scholarship Laxmi Bank will help talented
economically disadvantaged women to pursue advanced
studies in any STEM-related fields at Kathmandu University. The selection
process for the scholarship will be overseen and administered by KU, while Laxmi
Bank will help fund and promote the scholarship programme.
To ensure the
sustainability of the scholarship program, Laxmi Bank has set up an endowment
fund of NPR 10 million with 50% of the annual interest earned added back to the
principal amount each year and 50% utilized for funding the students.
Laxmi Bank hopes to implement
one of the key components of its CSR strategy – Advancement of Gender Equity
through this initiative thereby ensuring women are equipped with the support,
confidence and skills they need to pursue meaningful, in-demand careers --
regardless of background and providing access to STEM in higher education is a
key part to pave way for a more equitable society.
Laxmi Bank
believes that empowerment of women, who constitute more than half of the
population, is essential for achieving a truly ‘Prosperous Nepal’.