Get An Additional IDR 20 Trillion, LPDP Funds Increase To IDR 119 Trillion This Year

Illustration (Photo: Doc. Antara)

JAKARTA - The Public Service Agency (BLU) of the Education Fund Management Institution (LPDP) is said to have just received a commitment of additional managed funds of Rp. 20 trillion this year to complement the existing capital of Rp. 99.1 trillion, bringing the total to Rp. 119.1 trillion.

LPDP's Director of Finance and General Affairs, Emanuel Agust Hartono, said that the fund is an endowment fund that is the government's commitment to education.

“These funds are then invested in various safe investment instruments. The results of this investment are then used to finance various educational programs. So the basic funds cannot be used,” he said in a media briefing on Friday, June 10.

According to Agust, the education sector is one of the government's strategic targets in achieving development goals. The reason is, sustainable education programs for the next generation are considered to be able to ensure the quality of Indonesia's human resources (HR) with superior competitiveness.

"Going forward, the government through the 2023 State Budget will continue to play a role in maintaining the national economic recovery, also directed to encourage national productivity, including through improving the quality of human resources and strengthening education programs," he said.

For information, LPDP funds have started to be nurtured since 2010 with an initial deposit from the government of Rp. 1 trillion. In its development, LPDP not only finances education through the provision of scholarships at home or abroad, but also provides funds for research and development of the cultural sector.

Until now, there have been 15,631 graduates of the LPDP program spread across all provinces in Indonesia. Meanwhile, every year LPDP targets around 4,000 people to be able to participate in this government education program.