OREANDA-NEWS. September 11, 2012. The President of the Republic's Cultural Foundation and Sampo Bank signed a contract, according to which Sampo Bank (Estonian branch of Danske Bank Plc) will continue to fund the educational award over the next three years. The size of each award fund is 11,200 euros and it will be divided into three separate awards, 4,800, 3,500 and 2,900 euros respectively.

"Estonia has many teachers who put their hearts into their work are inventive and have a modern way of thinking; it is important to recognise and give prominence to them. I am glad that Sampo Bank helps to value Estonian teachers and education," President Toomas Hendrik Ilves noted.

According to the Managing Director of Sampo Bank, Aivar Rehe, society needs to think about developing education, because the world is in constant change and people who do more than is expected of them to further education should recieve special recognition.

"We are glad to continue funding the educational award because we are convinced that every euro invested in education pays back manifold. With our awards, we wish to sincerely thank the promoters of education. We also actively contribute to furthering financial education, having created several educational online environments for the young," Rehe added.

The President of the Republic's Educational Award can be awarded to all people involved in education on all levels, who have achieved remarkable results in Estonian educational life as a teacher, faculty member, director or an employee of an educational institution, author of textbooks or methodological materials as well as people who have initiated and carried out practical educational innovations or have worked on educational policy as an education official.
Nominations can be made by people who meet the aforementioned conditions or their employers, educational institutions and all associations involved in education. Candidates can also be put forward by the members of the supervisory board of the cultural fund.

The call for applications for this year's awards starts on 3 September. Sampo Bank has been funding the educational award since 2009.