Description

The purpose of the Kosovo American Education Fund (KAEF) Program is to support long-term development in Kosovo by enhancing a cadre of well-educated and trained individuals to address a current lack of human capacity. Funded by the American people through the U.S. Agency for International Development and administered by American Councils for International Education, the KAEF Program is a perpetual education fund that allows eligible/qualified Kosovars the opportunity to increase their knowledge and skills in areas that would support economic growth and investment in Kosovo. For 2005, the KAEF Program awarded eight master's-level fellowships through a competitive, merit-based process. Recruitment is currently under way for 2008.

Origins

Shortly after establishment of the United Nations Mission in Kosovo in 1999, USAID created the Kosovo Business Finance Fund (KBFF) to foster economic development and growth in Kosovo. This fund was used to establish the American Bank of Kosovo, a commercial bank that in the following years built up a loan portfolio and a successful level of deposits. The sale of these assets enabled the creation of the Kosovo American Education Fund (KAEF). In open competition, American Councils for International Education was awarded administration of this endowment in April 2004.