$5million has been committed by 3 African Governments and ‘Africa Business Champions for Science’ during a launch hosted by President Macky Sall of Senegal. The founding countries are Ethiopia, Rwanda and Senegal. This Regional Scholarship and Innovation Fund will award grants for 10,000 PhD scholarships in Africa over ten years, as part of the World Bank ‘Partnership for Skills in Applied Sciences, Engineering and Technology (PASET)’ programme.
The African Governments involved committed to the Fund alongside a new group of prominent business figures, the ‘Africa Business Champions for Science’, to raise a total of $5million during the launch.
The initiative is led by the PASET Steering Committee comprising Ministers responsible for higher education and research from Senegal, Rwanda and Ethiopia, business leaders, representatives from academia and the World Bank. The overall objective of PASET is to accelerate the creation of a skilled, high-quality workforce in Africa to power Africa’s socio-economic transformation. The launch of the Fund is an outcome of the actions agreed at the previous PASET Forum’s held in Ethiopia (2013) and Senegal (2014), as well as the related Forum on Higher Education, Science and Technology held in Rwanda (2014).