AGRIBUSINESS lender Rabobank has announced a three-year sponsorship deal with the Country Education Foundation of Australia.

Rabobank will become the major funder of 35 scholarships for young people across rural Australia to participate in the annual Young Rural Leaders Summit.

Attendees at the summit also implement follow-up projects for the benefit of young people in their communities.

A pilot of the summit was sucessfully run last year.

The scholarship are open to people aged between 16 and 18 who are identified for their leadership in their school and community, who will become strong leaders of the future.

CEFA chairman Nick Burton Taylor said the projects implemented by the participants addressed issues including drug and alcohol abuse, youth depression and boredom.

CEFA was established 10 years ago to foster further education, career and personal development opportunities for rural youth.