IDB President Ahmed Mohamed Ali and Andrew D. Hamilton, vice chancellor of Oxford, signed the agreement at the university in the presence of senior officials and dignitaries of the two institutions together with a number of beneficiaries of IDB scholarships currently studying in UK universities.

The new program is launched within the scope of the IDB Merit Scholarship Program for Science and High-Technology and the Clarendon Fund at Oxford.

The IDB has been running its scholarship program for over 17 years with the objective of developing human resources in member countries. The joint program with Oxford would significantly enhance IDB’s efforts to contribute to the development of its member countries in advanced science and technology sectors.

Addressing the signing ceremony, the IDB president thanked Oxford officials for partnering with the bank and giving a hand to enhance its efforts in developing science-based human resources in IDB member countries. He stressed that such partnership would help build future leaders in developing countries to champion development in all sectors.

Hamilton termed the launching of the joint program as historic and expressed his satisfaction that IDB and Oxford University will jointly sponsor a diverse group of students from IDB member countries.

IDB has launched a similar joint scholarship program with the Cambridge University in April 2009. So far 14 students from IDB member countries have benefited from different scholarships in science and hi-technology in the UK university.

As part of its support for Muslim communities in non-member countries the IDB established a scholarship program in 1983 for students from these communities to pursue university studies in the fields of medicine, engineering, agriculture and related subjects.

The number of beneficiaries of the program up to April 2011 totaled 11,327 students from 61 countries. As many as 6,314 students have graduated in various fields of specialization, and the total amount expended on the program is about $81 million.

The scholarship for students from member countries was introduced in 1992 as part of the bank’s efforts to enable member countries to meet their needs in the areas of science and high technology. The program offers scholarships to distinguished researchers from member countries to conduct research in 16 areas of specialization.

Up to April 2011, the program offered 660 scholarships to researchers in about 400 academic and research institutions for the benefit of 50 member countries. A total of 267 scholars have so far completed their research programs and graduated. The bank has spent 21 million on the program.

IDB launched another scholarship program in science and technology for the least developed member countries in 1998. Until April, 2011 the program offered 354 scholarships to citizens of 20 countries in various fields of science and technology. To date 146 students have graduated from the program. So far the bank has spent $2 million on the program.