The Australian Government on Nov. 13announced a new scholarship initiative, branded the Australia Awards,to support enduring ties between the nation and its neighbours.

The Australia Awards will comprise two streams: a leadership streamthat will target the best and brightest scholars to come to Australiaand a development stream that will build capacity in developingcountries, according to a media release.

The first phase of the initiative, the Australia Asia Awards, wasannounced by Australian Prime Minister Kevin Rudd while addressing anaudience at the National University of Singapore.

The Australia Asia Awards will be supported by new funding of 18million AUD and its first scholars will take up their awards in 2010.Comparable programmes for other regions will be rolled out insubsequent years.

The Australian Government currently invests 200 million AUD each yearin scholarship programmes which, at any time, support around 5,000international students to study in Australia .

The Australia Awards will bring together these Australian scholarship programmes under a single recognisable brand.

The Australian Government hopes that the new scholarship initiativewill demonstrate Australia ’s ongoing commitment to building closer andenduring ties with the region and beyond./.