The Bank of Canada (BoC) is now accepting applications for its inaugural Master’s Scholarship Award for Women in Economics and Finance, the central bank announced on Friday.

The scholarship, which will award $10,000 to eligible women pursuing a master’s degree in economics or finance at a Canadian university, is “designed to attract and advance women in core areas of the bank where they are under-represented,” the BoC says in its announcement.

In addition to the scholarship, the award “will be combined with an offer of permanent employment at the bank upon successful completion of their degree,” the BoC adds.

The work-placement opportunities will be determined based on the recipient’s field of study.

The central bank will award up to five scholarships to qualified candidates. The deadline for applications is Oct. 9. Recipients of the awards will be notified within four months.