Inditex, Tsinghua University set up Belt and Road scholarship
Spanish fashion group Inditex and Tsinghua University have set up a scholarship to support China’s Belt and Road initiative globally.
Inditex chairman/CEO Pablo Isla and the university VP Yang Bin have signed an agreement to award scholarships to students from the more than 52 countries forming part of the One Belt One Road initiative (the Silk Road Economic Belt and the 21st-century Maritime Silk Road). The fund will enable students to attend the university, and also encompasses other cultural exchange initiatives between participating countries.
Belt and Road initiative is the cultural, political and economic project aimed at further strengthening the relationship between different countries and cultures in Asia, Europe and Africa. It refers to the historical cultural and commercial exchange that traditionally joined Asia, Europe and Africa, lately known as the Silk Road.
Inditex will earmark €400,000 (US$468,000) for the Tsinghua-Inditex Belt and Road Educational and Scholarship Fund over a three-year period. The scholarships will target students from all the countries forming part of the Belt and Road initiative and will be part of cultural exchange activities to be managed by the Tsinghua University Foundation.
Isla says it is a fresh opportunity to support the international intercultural exchange project in which Spain is also involved. It is the second agreement between Inditex and Tsinghua: in 2016, the company and the Tsinghua School of Economics Management (SEM) agreed to the funding of scholarships for attendance at the business school. The scholarships fund travel by scholarship students to Spain for work experience at Inditex and other companies.