Farmak to invest $500,000 in Kyiv School of Economics

Ukrainian pharmaceutical company Farmak will invest $500,000 in Kyiv School of Economics (KSE), the Ukrainian graduate school of economics and management, according to its president, former economy minister Tymofiy Mylovanov.

KSE plans to spend this money to improve its campus and launch new bachelor’s programs.

Thanks to the support of the businesses like Farmak, “we pave the way to build a strong and innovative economy in Ukraine,” according to Mylovanov. “Supporting education and science is an investment that can change society for the better. It brings the most tangible results down the road.”

According to Farmak’s CEO Volodymyr Kostiuk, it is impossible to develop education without investments from the business. Kostiuk said that Farmak also supports the publication of books about Ukrainian scientists and invests in the Minor Academy of Sciences that organizes scientific competitions for students in Ukraine.

Apart from Farmak, KSE received $5 million from the Ukrainian investment firm Dragon Capital earlier this year. With this money, it wants to renovate a 4,500 square meter campus near the U.S. Embassy in Kyiv. After the reconstruction, KSE could accept over 600 students in the new building this September.

According to Mylovanov, everyone can invest in campus and buy a brick worth $500, $1000 or $2000. Each brick will have the investor’s name engraved on it. The campus will be named after its main investor, Dragon Capital.

Earlier in January Mylovanov announced that KSE plans to open new research centers this year, including think tanks on Corporate Governance and Government Relations. In total, KSE has eight research centers that help Ukrainian journalists, lawmakers and civic activists make sense of the country’s economy.

Apart from think tanks, Mylovanov announced that in September 2021, KSE plans to welcome its first undergraduates to the school’s Data Analytics and Economic Analysis program and Information Technology and Business Analysis programs.

As of today, KSE undergraduates who want to get a bachelor’s degree in Economics and Business must attend the Stockholm School of Economics’ program in Riga. Only master’s and PhD programs are available in Ukraine.

In 2020 KSE recruited a record 140 students for its master’s degree programs, according to Mylovanov. In total, 250 master’s students will graduate from KSE this year.