LPDP Manages Funds Of IDR 7 Trillion, Mendikbudristek Nadiem Makarim: Can Generate Benefits Of Up To IDR 500 Billion In 2024

Minister of Education, Culture, Research, and Technology Nadiem Makarim (Photo: Screenshot of the Indonesian Ministry of Education and Culture's Youtube)

JAKARTA – Minister of Education, Culture, Research, and Technology Nadiem Makarim revealed that the initiative to establish a university endowment fund as part of the Education Fund Management Institute (LPDP) program has brought many benefits. According to him, the amount of return obtained is very large and useful to support educational activities in the campus environment.

"The total interest that will be distributed to Legal Entity State Universities (PTNBH) has succeeded in increasing their endowments by around Rp455 billion each in 2022 (including carry over 2021), Rp350 billion in 2023, and Rp500 billion in 2024. ” he said during the Launching of Merdeka Learning with Minister of Finance Sri Mulyani, Monday, June 27.

Nadiem explained that the results were obtained from the placement of principal funds managed by LPDP for universities amounting to Rp. 7 trillion. "Alhamdulillah, this is support from the Ministry of Finance through the LPDP which will later be utilized by PTNBH, this is an extraordinary thing," he said.

According to VOI records, LPDP is a special mission vehicle (SMV) of the Ministry of Finance which has the task of managing the placement of government funds for the benefit of human resource development.

The LPDP budget has started to be nurtured since 2010 with an initial state deposit of IDR 1 trillion. Until March 31, 2022, the funds will continue to be added to a total of IDR 99.1 trillion targeting various fields, ranging from university scholarships, support for cultural development, and technology research activities.

Meanwhile, this year the government plans to re-inject LPDP through a commitment to place funds of Rp. 20 trillion, bringing it to a total of Rp. 119.1 trillion.