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On behalf of the NIS Company the Memorandum was signed by Andrei Shibanov, deputy CEO and Organisational Issues Function director, and on behalf of Lobachevsky University by its Chancellor, Yevgeny Vladimirovich Chuprunov. NIS signed the Cooperation Memorandum with Lobachevsky University with a view to facilitate an international Russian Language Competition organised by NIS, and to provide scholarships to the best ranking participants of that competition for their subsequent studies at Russia’s Universities. Other than that, the Memorandum stipulates the establishment of cooperation in promoting education in Russian language and Russian studies in Serbia. The Memorandum also stipulates for NIS representatives to become guest lecturers at Lobachevsky University, while the students of that high education institutions with be offered to participate in NIS programmes dedicated to the young. Students and postgraduates of Lobachevsky University from Serbia will be accepted as apprentices in NIS. The exchange of knowledge between the two sides will be performed within NIS Company corporate programme „Power of Knowledge“ envisaging partnership with education institutions aimed at improving conditions for education of young experts. NIS Company has so far signed 46 agreements with local and international science and education institutions. In addition to NIS, representatives of Lobachevsky University have signed a Cooperation Memorandum with the University in Novi Sad. Cooperation agreements have also been signed between the Philosophy faculty of the University in Novi Sad and Philology faculty of Lobachevsky University, Pedagogical faculty in Sombor of the University in Novi Sad and Philology faculty of Lobachevsky University, Technology faculty of the University in Novi Sad and Chemical faculty of Lobachevsky University. “N. I. Lobachevsky” National Research State University was founded in 1916. Today, “Lobachevsky” University is a world acclaimed education institution ranking among Russia’s best classical universities and greatest scientific, innovation and cultural centres of Russia. The University is a member of European University Association (EUA) and closely cooperates with Russia’s Academy of Sciences and largest high technology international companies.