The agreement will set up scholarships for academics and students from higher education institutions in countries within Santander's network to study at The Open University and participate in its International Fellowship Programme. The sponsorship will also support the introduction of the academic and international professorship programme in the OU Business School.

Professor Brenda Gourley, Vice-Chancellor of The Open University, said: "The partnership with Abbey and Santander is very significant for us. The Open University has students and collaborative partnerships all over the world and Santander can help us extend that network and reach even more people who can benefit from our provision. We look forward to meeting new partners and making our unique contribution to the network. It is also an opportunity to learn more, to share more, and to find ways to tackle the issues relevant to us all in a global society."

Luis Juste, Santander Universities Director in the UK, said: "Abbey is delighted to welcome The Open University to the Santander Universities network. We share a common endeavour in promoting international collaboration and partnership for the exchange of knowledge and enabling more students and academics to benefit from the University's educational opportunities."