The Technion - Israel Institute of Technology has announced a gift of 21 million NIS (approximately $6 million) from the Azrieli Foundation.

The gift will be used to develop and expand the institute’s Division of Continuing Education and External Studies, which occupies three buildings on the Technion's satellite Sarona campus, and to establish the Azrieli MBA Program in Entrepreneurship and Innovation. In recognition of the gift, the Division of Continuing Education and External Studies will be renamed after Azrieli.

The Azrieli Foundation was founded in 1989 by Canadian-Israeli real estate developer David Azrieli, the founder of Canpro Investments, a Montreal-based construction and development company. In addition to serving on the Technion's board of governors, Azrieli has held a number of leadership roles, including honorary president, in the Canadian Technion Society.

"Thousands of engineers and architects work and contribute in this country today thanks to [David Azrieli's] support and vision," said Technion president Peretz Lavie. "It is hard to imagine Israel’s modern economy without David Azrieli's enormous efforts and vast activities."