I got this Scholarship (€ 10,000.00 per year) for the year 2006/2007 in merit-based category. It is the highest funding scholarship in Europe for doing Master of science.

About this scholarship:

ICE, in cooperation with the Lecco and the Como
Chambers of Commerce, the Politecnico di Milano,
one of the leading European technical universities, offers,
to a limited number of foreign students, the opportunity
to win a scholarship to support the enrolment at the
Politecnico in Master of Science Courses in the Lecco
and the Como campuses. See (PDF)

50 annual scholarships of € 10,000 gross a year for two years are available for foreign students applying to Master of Science programmes held in Como and Lecco campuses. But they offered 100 annual scholarships of € 8,000 gross for this year only. 

Programmes held in Como and Lecco campuses, entirely taught in English:

• Building Engineering
• Computer Engineering
• Civil Engineering
• Environmental Engineering
• Management Economics and Industrial Engineering
• Mechanical Engineering

More Details: http://www.polimi.it/english/academics/scholarships.php?id_nav=-247

           And            http://www.studyoverseas.com/engineering/politecnicodimilarno.htm

About the university:

It is one of the top most university in Europe and the 56th position in the world according to THE TIMES HIGHER EDUCATION SUPPLEMENT WORLD UNIVERSITY RANKING 2005.

For Further Information: www.polimi.it/english