I like to add my appreciation of Guy and Lyman's proposal to those of Harry.
I have three points:
I presume the intention is that any and all re-imbursement (that is transfer of money rather than direct payment of, for example, lodging expenses) should go to the student's institution, which is expected to pay the expenses (such as air fares) in the first place. This is implied in a couple of places but not made absolutely clear.
I should like to un-pick Harry's nit-pick! In this use, "programme" is perfectly acceptable in what Microsoft insist on calling "English (U.K)".
One suggestion for the last paragraph: Where you've written "around 1500 Euros (resp. 500 Euros) for a flagship (resp. working) conference", I'd have written "around 1500 Euros for a flagship conference and 500 Euros for a working conference".
Regards
Peter