Students from Macao as well as from China's Guangdong and Fujian provinces who graduated from Macao's universities can apply for higher education institutions in Portugal, Brazil, Malaysia, Indonesia and the Philippines, the foundation said in a statement.
Meanwhile, students from countries and regions involved in Belt and Road Initiative can apply for higher education institutions in Macao.
The program is to offer a total of 150 scholarships for five years, with the first batch of 30 scholarships available for the academic year of 2017/2018, according to the foundation.
Applicants can start to apply from Monday to June 12, and the results will be announced late July, the statement said.