The objective of this new incentive fund for student teachers is to promote the discussion and awareness of the importance of teacher education. Kvika took the initiative to establish this fund and, in doing so, wants to support a long-term positive impact on the community. Lilja Alfreðsdóttir, the Minister of Education, Science and Culture, and Ármann Thorvaldsson, CEO of Kvika, today signed a partnership agreement for this incentive fund, which will issue grants for a total value of ISK 15 million to student teachers over the coming three years.

“A powerful education system is a prerequisite for progress. It is satisfying to sense the broad consensus that is developing in the economic sector on the importance of teaching and to witness the increased recognition it is receiving. I welcome Kvika’s initiative, incentives like these are crucial. It’s a community task to strengthen our education system and we need to approach it from different angles. We are now working hard on increasing the number of student teachers and boosting the number of new recruits in teaching, and the creation of this new fund certainly bolsters those measures,” said Lilja Alfreðsdóttir, the Minister of Education, Science and Culture.

“Kvika’s declared policy is to have a positive long-term impact on the community, with a particular emphasis on education. In accordance with this, last year the bank established an incentive fund for vocational training students, which has been very positively received. The importance of teacher education for society is beyond question and the objective of the incentive fund for student teachers is to encourage strong individuals to choose studies in the education sciences and promote awareness of the importance of teacher education. We are very pleased to be in partnership with the Ministry of Education, Science and Culture because the fund fits in very well with the ministry’s recently presented priorities,” said Ármann Thorvaldsson, Kvika’s CEO.