Woori Bank (Cambodia) Plc and Royal University of Phnom Penh (RUPP) on January 10 signed a memorandum of understanding (MOU) to provide 100 scholarships equivalent to US$50,000 per year to undergraduate students in key specialised subjects.

These include the newly established programme on sustainable urban planning and development (DSUPD), Economic Development (Eds), Community Development (CDs), Computer Science, International Business Management (IBM) and Mathematics.

The event was presided over by Woori Bank Cambodia CEO Kim Hong Ju and RUPP Rector HE Dr Chet Chealy, with professors, lecturers, faculty members and students in attendance, as well as the bank's senior management team.

The MoU signing reflects Woori Bank's awareness of the importance of education as the backbone of Cambodia's development.

With the bank’s goal of growing with Cambodia, supporting the Kingdom's education is a key part of its corporate social responsibility (CSR) programme.

“Being faithful to our motto, we actively conduct CSR activities across a range of areas, such as schools, hospitals and orphanages.

"Woori Bank is pleased to be a partner with RUPP to provide scholarships for students. Our financial aid will help students to complete their studies successfully, while they will also have job opportunities at Woori Bank.

"I sincerely hope that all students who receive a scholarship from Woori Bank will be the step-stone of Cambodia’s development,” Kim Hong Ju said at the signing ceremony.

Rector HE Chet Chealy provided a brief history of RUPP's efforts towards becoming Cambodia's leading university.

The number of students enrolling increased steadily over the past five years, he said, as RUPP addresses the issues of knowledge gaps and skills mismatches, while building strong human capital towards achieving long term sustainable development for the Kingdom.

“Our vision towards 2030 is to be Cambodia’s flagship university, with regional standing in teaching and learning, research and innovation, and social engagement.

"To achieve this, we set five goals – the enhancing of teaching and learning; promoting research and innovation; developing well-rounded citizens and effective leaders; promoting sustainable development and preserving Cambodia's cultural and natural heritage; and expanding social engagement,” HE Chet Chealy said.

The MoU signing marked the beginning of a long-term collaboration between Woori Bank and RUPP towards achieving their mutual goals for the sustainable growth of Cambodia.