Providing scholarships

Financing scholarships

Description

Providing scholarships involves allocating financial support to individuals, typically students, to enable access to education or training that would otherwise be unaffordable. This strategy directly addresses barriers such as poverty, inequality, and lack of opportunity by covering tuition, materials, or living expenses. By removing financial obstacles, scholarships promote social mobility, foster talent development, and help build a skilled workforce, thereby remedying educational disparities and supporting broader socio-economic advancement.

Implementation

The Islamic Development Bank (IDB)'s Scholarship Programme was launched in 1983, and provides interest-free loans to needy students from Muslim communities in non-member countries to pursue higher studies in their own countries or in the IDB member countries in the fields of medicine, engineering, dentistry, pharmacy, nursing, veterinary sciences and agriculture. Up to the end of 1993, scholarships have been provided to 2344 recipients in 32 non-member countries, and the total amount spent on the Programme since its inception stands at about 17.2 million dollars.