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Providing internships for students, helping them transition seamlessly from university to the workplace

The Lithuanian Business Confederation has begun the project called Development of System for Students’ Internships in Financial and Insurance Sectors, which is partially funded by the EU. The project will create internships for students concentrating on finance and insurance.

This project is being fulfilled by organizations such as: The International School of Law and Business, The International School of Business, the faculty of economics from Vilnius University, The Association of Lithuanian Banks, Danske Bank, Ergo Lithuania, SEB Bank, and the Lithuanian Business Confederation. 

The goal of this project is to improve students’ education experiences by organizing internships for students concentrating on finance and insurance. The project will make the process of finding an internship easier for students, as they often do not know where to look for internships and must apply for internships to many different organizations. This system forces companies to find the proper candidate, while educational institutions seldom understand the nuances of companies’ activities and fail to provide students with appropriate information.

Algimantas Akstinas, the Director General of the Lithuanian Business Confederation, said, “The Lithuanian Business Confederation will be more proactive in forging a relationship between education and business, as it has united the service, trade, and high-tech companies in Lithuania. The Confederation is heavily interested in the development of students through internship programs. Our members, companies from financial and insurance sectors, often take students for internships. Currently, internship programs do not always meet expectations of both employers and students, and more thorough and effective communication between schools and business organizations will improve the internship experience. We are pleased that this project will allow for better opportunities for business to collaborate with the academic society.”

This project will strengthen the relationship between business and academia to create an effective system of internship planning, meeting the needs of partners and giving students international experience. The new system will instruct internship executives from business and academic institutions to perform trial internships, collect information about internships for financial and insurance companies, and put this information on the internet by 2012 for all students to read.

The Lithuanian Business Confederation is a major business advocate, uniting service, trade, and high-tech companies throughout the country. It is a member of the International Chamber of Commerce (ICC) and actively participates in the World Chamber Federation. The Lithuanian Business Confederation represents 25 business associations and more than 1,500 companies. 


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