Corvinus and Magyar Nemzeti Bank sign a Letter of Intent on cooperation
As a first step, Letters of Intent had been signed with Corvinus University of Budapest, Budapest University of Technology and Economics, and Eötvös Loránd University, laying the groundwork for three-year framework cooperation agreements.
Mihály Varga, Governor of the Magyar Nemzeti Bank, said: the central bank has allocated HUF 120 million per semester to research programmes, with seven research projects currently in preparation. Alongside traditional economic research, these projects include the development of advanced economic models and the creation of a database for comparing artificial intelligence models.
The Governor highlighted that, as artificial intelligence becomes increasingly widespread, the financial sector will need not only economists but also a growing number of data scientists, applied mathematicians and specialists from related disciplines. In response to these evolving needs, the MNB’s scholarship programme could be expanded from 17 to 21 eligible university degree programmes. In addition to the three initial partner institutions, the University of Debrecen and the University of Pécs will also join the renewed scholarship programme in the future.
From the spring semester, a total of 88 master’s students could receive financial support for ten months, funded through a budget of HUF 110 million per semester. The programme aims to support the top three per cent of master’s students. The university programmes are financed from fines collected by the central bank, meaning that revenue from these fines is being used to improve the financial system in the future.
Source: Magyar Nemzeti Bank (MNB) press release
Photo: Magyar Nemzeti Bank (MNB)