Yale-NUS College and Spanish bank Banco Santander signed a memorandum of understanding to establish two scholarship programmes at Yale-NUS College on Wednesday.
Santander's gift of US$800,000 ($1 million) will support the Santander Scholarship and the Santander International Experience Scholarship. The Santander Scholarship is awarded based on merit, and will support up to five students.
The Santander International Experience Scholarship will support exchanges, overseas internship and professional experiences for up to 100 students over the next five years. Preference will be given to students going to Spain and Latin American countries. Yale-NUS students will also have the opportunity to intern at Santander offices in Europe and Latin America.
"Yale-NUS College is one of the 21st century pioneers in liberal arts education in Asia. For Santander it is an honour to be one of the founding benefactors of this renowned institution," said Santander's executive chairman Emilio Botin.