VIENTIANE, March 30 (Xinhua) -- Lao China Bank (LCNB), a Chinese joint venture in Laos, has provided a scholarship worth 150 million Lao kip (some 17,500 U.S. dollars) to Confucius Institute in National University of Laos for supporting underprivileged students to learn Chinese language.

A ceremony was held on Friday at the university, the top education institution in Lao capital Vientiane, participated by the university's vice president, Phout Simmalavong, deputy general director of LCNB, Bounlath Soutisack, director of the university's Confucius Institute, Yonvilay Xayyalerd, among others.

The bank, with the 150 million Lao kip, will support 300 Lao students in the coming three years to learn Chinese free of charge.

Also on the ceremony, both sides reached consensus that the Confucius Institute will help LCNB to teach its local staff Chinese language, while the LCNB will offer internships to students of the institute.

The Confucius Institute in National University of Laos was established in March, 2010.