The Ministers of Foreign Affairs of Iceland and Norway signed a three year Memorandum of Understanding in Akureyri on September 29, 2011, concerning co-operation in the field of Arctic scientific research. It indicated key activities, including the establishment of a Nansen Professorship in Arctic Studies at the University of Akureyri, Norwegian and Icelandic Arctic Science Cooperation Fund and Exchange scholarships for Icelandic and Norwegian Students in Arctic Studies.

 
The overall administration of the activities rests with a joint programme committee of representatives from the Ministries of Foreign Affairs of Iceland and Norway.
 
The Icelandic Ministry for Foreign Affairs has made an agreement with the University of Akureyri regarding the establishment and the administration of the Nansen Professorship. 
 
The Icelandic Ministry for Foreign Affairs has made an agreement with the Icelandic Centre for Research (Rannis) in Iceland regarding the administration of the Arctic Science Cooperation Fund and Exchange scholarships for Icelandic and Norwegian Students in Arctic Studies.
Rannis will manage these funds in close cooperation with the Norwegian Centre for International Cooperation in Education (SIU). Rannis and SIU will propose grant allocation but grant award decisions are taken by the programme committee.
 

Next Application deadlines:
EXCHANGE SCHOLARSHIPS FUND:  15. October 2014 – further information and application  
SCIENCE COOPERATION FUND: Last deadline was 2. May 2014further information and application