ATHENS, Dec. 11 (Xinhua) -- Piraeus Port Authority S.A. (PPA) on Thursday inaugurated the Kunpeng Scholarship, providing financial support to local university students.
At a ceremony in Piraeus, ten first-year students from four nearby municipalities each received grants of 3,000 euros (about 3,519 U.S. dollars) from the OLP-COSCO Shipping Kunpeng Scholarship.
China's COSCO Shipping holds a majority stake in PPA, which operates Greece's largest port.
Addressing the event, PPA Chairman Han Chao said the scholarship forms part of the company's continued efforts to support youth development and local communities.
The ceremony was also attended by Chinese Ambassador to Greece Fang Qiu, the Greek minister of social cohesion and family, and local officials from Piraeus, Perama, Keratsini-Drapetsona, and Salamis. They noted that the program complements other social responsibility initiatives benefiting the region.
Speakers also highlighted the symbolic meaning of "Kunpeng," a mythical Chinese creature that transformed from a giant fish into a giant bird, representing potential and growth. The name of the scholarship was chosen to reflect its goal of encouraging students to pursue academic advancement.
Ioannis Tragakis, chairman of the Greece-China Friendship Group in the Greek parliament, said the Kunpeng Scholarship would help ease the burden on low-income families.
Several recipients expressed appreciation for the scholarship. Engineering student Yannis Zervas said it would reduce financial pressure on his family.
In addition to the scholarship awards, PPA distributed Christmas gift vouchers worth a total of 200,000 euros to representatives of surrounding municipalities. The vouchers, supporting 5,000 children, are part of an annual initiative launched a decade ago to assist families during the holiday season. (1 euro = 1.17 U.S. dollar) ■