Endowment Funds for Higher Education Can Improve Indonesia’s Global Competitiveness, Minister Says
Ministry of Education, Culture, Research, and Technology and the Indonesia Endowment Funds for Education (LPDP) Monday (06/27) at the office of Ministry of Eduation, Culture, Research, and Technology in Jakarta launched the Freedom to Learn Episode 21: Endowment Funds for Higher Education.
For the record, the Freedom to Learn program embodies the Government’s commitment to enhancing the quality of higher education to compete in the global scene.
“Ministry of Education, Culture, Research, and Technology has been working with the LPDP to allocate funding from the Endowment Funds for Higher Education to support State Higher Education Institutions of Incorporated Legal Entity (PTNBH) to become world class universities. Ministry of Education, Culture, Research, and Technology and the LPDP will “match” the endowment fund increase in the forms of primary funds with investments that have successfully been increased,” Minister of Education, Culture, Research, and Technology Nadiem Anwar Makarim said in his opening remarks.
According to Nadiem, the funding allocation to transform the PTNBH into world class universities includes three program funding allocation periods.
The first period is from June 2 to December 31, 2022 with a total fund of Rp445 billion with the second period from January 1 to December 31, 2023 with a total fund of 350 billion. Meanwhile, the third period starts from January 1 and ends on December 31, 2024 with a total fund of Rp500 billion.
“The Endowment Funds for Higher Education program is aimed at enabling the PTNBH to become a legal entity able to manage financial assets independently with each PTNBH expected to generate more sources of income other than the Government’s aids and single tuition fees,” he said.
In addition to launching the endowment funds for higher education, during Freedom to Learn Episode 21 the Ministry also launched a supporting ecosystem that includes policies and systems to build governance of higher education with global competitiveness.
On that occasion, Nadiem also pointed out that the policies consist of new credit point assessment policy and system, the Research and Community Service Database and Information (BIMA), the Science and Technology Index version 3 (SINTA), the WCU Analytics system, and the PTNBH Analytics system.
“With a robust collaboration between the Government, the public, and private sectors, Indonesia stands a chance to catch up on funds for higher education for innovation can only be created with collaboration,” he said.
In the meantime, Minister of Finance Sri Mulyani Indrawati voiced support for the utilization of Endowment Funds for Higher Education for higher education advancement in Indonesia, while expressing hope that the funds could spur more collaborations, innovations, and creativity in higher education.
“Especially in legal entities so that they are more advanced and confident,” she said, adding that higher education institutions are expected to become the center of education that enlighten the nation so Indonesia can have the best people to improve governance, resources, mechanisms, bureaucracy, accountability, and results of various programs/policies.
The support from Ministry of Finance in this policy launching, according to Sri Mulyani, means that higher education institutions are trusted to manage higher education in a better way.
“I’d like to appreciate all Freedom to Learn policies, from the first episode to the most recent episode amidst program evaluation that continues to be carried out. However, we continue to fully support the impovement of education quality in Indonesia with full commitment,” she remarked. (PR of Ministry of Education, Culture, Research, and Technology/UN) (DH/EP)
The official website of Ministry of Education, Culture, Research, and Technology can be accessed here.