EU increases cash to rival Fulbright programme

(BRUSSELS) - The European Union said Thursday it would increase financing for its Erasmus Mundus exchange for students from outside the 27-nation bloc in a bid to rival the prestigious US Fulbright programme.

The European Commission said just over 950 million euros (1.3 billion dollars) would be spent over five years on exchange and scholarship programmes.

EU Education Commissioner Jan Figel said the scope of the programme had to be widened that he wanted Erasmus Mundus to become "the trademark for EU cooperation with third countries in the field of higher education."

The EU launched Erasmus Mundus in 2004 to encourage more students to come to European universities while also making it easier for European students to spend time in universtities outside the bloc.

Erasmus Mundus, in which more than 2,300 students have participated during the three academic years to 2006, was based on the highly popular inter-EU Erasmus programme and has a budget of 230 million euros for 2004-2008.

The new phase aims to extend the programme to cover doctoral students and not only masters level students, and increase financial aid for participating students.

EU External Relations Commissioner Benita Ferrero-Waldner said that under Erasmus Mundus II diplomas would only become valid once a student returned home, reducing the chances of contributing to a brain drain from emerging countries.

"I think that Fulbright studies are really a brand name in Europe and the friendships, the cooperation and the way of experience that this has brought about, this is exactly what we would like to create," Ferrero-Waldner said.

Since 1946, the US government has promoted international study with competitive scholarships granted by its Fulbright programme.

Erasmus Mundus II - guide