MNB to merge education foundations
The National Bank of Hungary (MNB) is merging two of its foundations that support education, the central bank said yesterday, according to Hungarian news agency MTI.
The decision to merge the Pallas Athene Domus Concordiae (PADOC) foundation, which supports secondary and tertiary education and social dialogue in regions outside of the country with large ethnic Hungarian populations, with the Pallas Athene Domus Scientiae (PADS) foundation, which fosters broader financial understanding in Hungary, was taken by the MNBʼs board.
The foundationsʼ tasks will be taken over by the newly established Pallas Athene Domus Educationis (PADE) foundation.
PADS and PADOC each have endowments of a little more than HUF 50 billion.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.