EuroFaculty Pskov (EF-P) project was launched in 2009 in the region of Pskov in Western Russia, close to the border of Estonia and Latvia. The main aim of the project is to upgrade university education in Business Economics/ Business Administration at the recently created Pskov State University (PskovSU) which is the result of a merger of five education institutions in Pskov. The Pskov State University celebrated its official anniversary on October 14, 2011. Before the merger the recipient institutions were the Pskov State Polytechnic Institute and the Pskov Volny Institute (the latter until June 2010).
The second three year phase (2012–2015) of the EF-P with newly revised objectives and even wider university base around the Baltic Sea area was launched on September 1, 2012. The EF-P has ambitious goals for the second phase: launching of an International Master Programme around the Baltic Sea business, launching of an International Management Development Programme with unique content, as well as drawing a regional development plan with emphasis on entrepreneurship and innovation.
The project consortium is a strong network of some of the leading universities of the partner countries. The project leader is the University of Turku. Other partners are the Stockholm School of Economics, Russia (branch in Saint Petersburg), Trondheim Business School, Roskilde University, University of Tartu, University of Latvia and the Saint Petersburg State University of Economics and Finance. The project aims at creating a strong network between the partner universities – a network which will stay active also after the project period.
The project is financed through contributions by the Member States of the Council of the Baltic Sea States (CBSS). The lead representative of the Financier is Sweden represented by the Ambassador Catherine von Heidenstam. The EuroFaculty Pskov project is the third EuroFaculty project of the CBSS. The first project in the Baltic States took place in 1993-2005. The second mission was carried out in Kaliningrad in 2000–2007. More information on the previous EuroFaculty projects can be found on the CBSS website.