Kutxabank and the Basque Government sign an agreement to fund in-company training abroad

The Government granted 32 scholarships in 2009 and 500 this year, with 7.5 million euros funding. Kutxabank will fund 100 of the scholarships and will contribute 1.5 million euros as part of a joint initiative by the BBK, Kutxa and Caja Vital Welfare Funds. There are two types of scholarships: 100 Internationalisation Scholarships for university graduates only (the application period closes today) and 400 ‘Global Training’ scholarships, which are also open to young vocational training graduates (the application period opens on May 30). Eight out of ten students receiving an Internationalisation Scholarship find work in less than six months. The scholarships form part of the Government’s bid for different aspects of internationalisation.

Basque Government, 16/04/2012

Within the framework of the first joint social initiative promoted by the BBK, Kutxa and Caja Vital Welfare Funds, the Basque Government and Kutxabank today signed an agreement to boost the internationalisation bid and facilitate labour market access to 500 young people in the Basque Country.

The 500 scholarships form part of an Open Economy commitment included in the 2010-13 Business Competitiveness Plan, one of the priority focus areas in which internationalisation plays a vital role. The Government has greatly increased the number of internationalisation scholarships, granting 500 this year as compared with the 32 it offered in 2009.

The scholarship budget has also been expanded, with a 7.5 million euro contribution from the Basque Government itself for the 500 trainees – divided into three annual payments – plus the 1.5 million euros from the Basque savings banks forming part of Kutxabank that are now added to this amount.

One of the priorities for the three Welfare Funds jointly promoting the scheme is to combat youth unemployment, by backing entrepreneurship and through mechanisms to promote universal access to quality training.

The Government is also offering 400 newly-created ‘Global Training’ scholarships. A hundred of these will be financed by the three savings banks, in virtue of today’s agreement, and the other 300 will be funded by the Government itself.

A new feature of the scholarships is that they are now not only available to university degree-holders but also to holders of vocational training graduates and diplomas. The age limit is 30, and other requisites include fluency in English and having lived in the Basque Country for the last year or more. The application period will begin on May 30.

Global Training, a new feature

In 2012 the programme will provide scholarships for 100 young people, and for the first time 400 ‘Global Training’ scholarships will also be granted. The in-company training will include an initial period of 40–60 hours of specialist theoretical training, to be followed by 6–12 months’ practical training at companies and organisations abroad.

The Department of Industry, through SPRI’s network of corporate offices abroad, will sign collaboration agreements with foreign organisations so that they can collaborate to identify companies interested in receiving scholarship holders for in-company training as part of this programme.

Young people interested in applying for the scholarships should call 945 01 99 96 or send an e-mail to comercio-ext@ej-gv.es.