Indonesian Education Endowment Fund Of IDR 99 Trillion, Sri Mulyani: There's Still More Through The State Budget Mechanism

Minister of Finance Sri Mulyani (Photo: screenshot of the Ministry of Finance Youtube)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the total endowment funds in the education sector managed by the government since 2010 to date have reached Rp. 99.1 trillion.

"This is a total endowment fund in the field of education including research, higher education, and culture of Rp. 99.1 trillion and this will still grow because in 2022 there will be additional funds through the APBN mechanism," he said through an online channel during the Opening of the Fund Management Institution Scholarship. Education (LPDP) 2022 on Friday, February 25.

According to the Minister of Finance, the education endowment fund includes a research endowment of Rp. 8 trillion, a university endowment of Rp. 7 trillion, and a cultural endowment of Rp. 3 trillion.

"The various forms of endowments are a commitment that the quality of Indonesia's human resources (HR) is determined not only from the side of formal education, from the education side also not only learning in class, research is important, social interaction is very important, and even from a cultural perspective. ," he said.

The Minister of Finance added that since 2007 the government has allocated 20 percent of the APBN to the education sector.

Meanwhile, this year, the total budget for education is equivalent to IDR 542.8 trillion. He said the allocation for the education budget depended on the size of the state budget each year. Thus, if the state budget increases, the education budget will also increase that year.

"The 20 percent of the education budget mandated by the constitution can and must be utilized between generations and managed properly," he stressed.

Furthermore, the state treasurer revealed that the opportunity to obtain an LPDP scholarship is open to every Indonesian people.

He assessed that LPDP's contribution in improving the quality of Indonesian human resources education was realized by providing opportunities for world education through full scholarship programs for master's and doctoral programs.

"Equal distribution of scholarship opportunities for all Indonesians is realized through grouping the types of scholarships into affirmative, targeted and regular scholarships," closed the Minister of Finance Sri Mulyani.