Hanban provides a grant for the establishment of Confucius Institute for Business at Matej Bel University

Project narrative

On October 29, 2018, the Confucius Institute Headquarters (Hanban) and Matej Bel University (MBU, or UMB in Slovak) signed an agreement to establish the Confucius Institute for Business (CIB) at Matej Bel University. As part of the agreement, Hanban is obligated to provide teaching materials, an annual fund, and numbers of Chinese instructors. The funds are dispersed through a local Bank of China account or other approved bank account created by the institute. The agreement has a 5-year validity and automatically renews at the end of every 5-year term. In 2018, MBU and Dongbei University of Finance and Economics (DUFE, 东北财经大学), the cooperating partner, signed a supplementary implementation agreement. DUFE agreed to provide one or two visiting scholars annually, donate teaching materials, and receive student study groups. The Confucius Institute was officially established on September 2019 and it began operations on October 24, 2019.