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TBILISI, DECEMBER 6, ARMENPRESS: British Petroleum (BP) has pledged financial support for establishment of an economic school for students from the three South Caucasian countries that will offer an MBA course. An official of the BP representation in Georgia was quoted by Russian RIA news agency as saying that the governments of Georgia, Azerbaijan, Armenia, the World Bank and some other international organizations will also have their input in the establishment of the school.
Under the terms of a 2004 grant agreement BP signed with the Georgian government, it will release $2 million to that end. The aggregate amount of the agreement is $14.5 million, intended also for funding of a set of social projects. An official of the Georgian government staff was quoted as saying that foreign donor organizations have already made available $5 million for establishment of the school. Besides, Georgia’s budgets for 2006 and 2006 earmark another $2.5 million for the school.

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