FAYETTEVILLE, Ark. – Panamanian President Ricardo Martinelli has established a scholarship to benefit outstanding student leaders in the Sigma Nu fraternity. The Ricardo Martinelli Endowed Sigma Nu Leadership Scholarship is the result of a $100,000 gift from the president, who graduated from the University of Arkansas in 1973.

 “President Martinelli is an exceptional friend and alumnus of ours,” said Chancellor G. David Gearhart. “This gift is just another example of his generosity and dedication to the University of Arkansas. We have been honored to get to know him better over the last several years and appreciate his latest contribution to provide financial support for outstanding students.”

Martinelli studied business during his time at the university, as did his former roommate John Mason. “I have known the president for 43 years,” said Mason. “He was my roommate and good friend at the university, and I am proud to be his fraternity brother. I am grateful for his commitment and support of the Gamma Upsilon chapter of Sigma Nu by providing these scholarships.”

Martinelli was elected as president of Panama in 2009. He has remained a very active alumnus of the university and returns to campus often. He received the Distinguished Alumni Award from the Arkansas Alumni Association in 2002 and was inducted into the Towers of Old Main in 2013. Martinelli received an honorary degree and was a featured speaker at the university’s All University Commencement this spring and currently serves on the Campaign Arkansas Steering Committee. Thinking about the value of education, Martinelli said, “You can take away everything a person has, but what you have in your mind can never be taken.”

This scholarship is the second one established in President Martinelli’s name. In 2009, the Ricardo A. Martinelli Endowed Scholarship was established to provide financial assistance to students from the Republic of Panama who wanted to pursue higher education at the University of Arkansas.