NEWS

New York, NY – The American-Scandinavian Foundation (ASF) is very pleased to announce that, in recognition of the ASF Centennial, DNB, Norway’s leading financial institution, has pledged $250,000 to support master’s degree study in Business Administration and Finance by Norwegians in the United States. The first candidates will be selected in the coming year in a rigorous competition and will begin their programs in the fall of 2012. They will be attending one of the top twenty American graduate schools of business. Edward Gallagher, ASF President, said, “These new fellowships will be a very important addition to the ASF’s offerings for Norwegian candidates. They are a great testament to the importance that DNB places on the education of young people and the importance of international exchange.”

DNB has been a generous supporter of The American-Scandinavian Foundation in the past but this is the first time they have funded specific educational programs. The fellowships were announced by Kristin H. Holth, Executive Vice President and General Manager for DNB, New York Branch, who said, “We are very proud to support and enable Norwegian students to finish their master’s degree in the US. This contribution underlines DNB’s strong support for the cooperation between our nations and with this fund in particular fosters future business leaders in Norway with an international focus.”

Since its incorporation in New York City in 1911, The American-Scandinavian Foundation (ASF) has served as the leading cultural and educational link between the United States and Denmark, Finland, Iceland, Norway, and Sweden. Established by a group of forward-thinking leaders from business and education, the ASF was the first non-governmental society to have as its sole purpose the development of international communication and
understanding through educational and cultural exchange. From its earliest days until the present, the ASF has provided financial support for students and scholars and it currently awards more than $800,000 annually in fellowships and grants to individual students and scholars from the US and the five Nordic countries.