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Govt to expand use of finance ministry's education endowment fund

Tempo - January 21, 2024

Antara, Jakarta – The government is currently mulling to expand the use of endowment fund schemes of the Finance Ministry's Education Endowment Fund Management Agency (LPDP) to cover a broader range of necessities beyond scholarships in education.

Coordinating Minister for Economic Affairs Airlangga Hartarto made the statement during the Leaders' Offsite Meeting event in Bandung, West Java, on Friday (January 19) evening.

"We are currently under discussion to revise the LPDP funding schemes. The goal is to expand the use of LPDP funds to cover not only education (scholarships) but also training activities," he remarked.

Hartarto explained that the discourse on the expansion surfaced after President Joko Widodo pushed for efforts to further improve LPDP's system while noting that the president also demanded that the quota for LPDP scholarship grantees be increased.

"Mr. President instructed us to perfect the system of LPDP in order to cover matters beyond education, such as training activities and the tourism sector," he remarked.

The minister then drew attention to the government's Pre-Employment (Prakerja) Card Program, saying that the program has been assisting people seeking to enhance their skills and capacity.

He highlighted that by becoming Prakerja beneficiaries, people can enjoy a wide array of training courses offered that are instrumental for developing their competency and preparing them either as entrepreneurs or formal workers.

"The Prakerja Card Program has been a success story, as it offers people training courses on a massive scale and helps them secure job positions," he noted.

He stated that the program has also been lauded by the international community, adding that several countries have expressed interest in emulating the program for their people.

"This program has received appreciation from the UNDP and Queen Maxima (of the Netherlands)," he pointed out. He further noted that Laos, Thailand, and Cambodia had expressed keenness to adopt the program.

Source: https://en.tempo.co/read/1823907/govt-to-expand-use-of-finance-ministrys-education-endowment-fun