The number of Russian degree students in Finnish higher education institutions has grown rapidly over the last years. Whereas in 2010 the number of Russian students pursuing a degree in Finland was 1 776, As student mobility facilitates people-to-people contacts, it is also seen as an important dimension in bilateral cooperation between Finland and Russia, and the ministries of education and science of both countries have jointly committed to exploring new ways to promote student mobility. As a continuation to these developments, CIMO has recently launched a new pilot initiative through which it will provide Finnish higher education institutions with financial support, facilitating student mobility at all three cycles of study. It will complement the existing FIRST – Finnish-Russian Student Exchange Programme by supporting student mobility outside the North-Western Russia which is the target region of the FIRST programme.