Prabowo-Gibran mentioned the issue of endowment funds, this is an explanation regarding the education endowment fund

MidLand, Jakarta – Election promises of the presidential candidate and vice president number two, Prabowo Subianto and Gibran Rakabuming Raka mentioned several things about endowment funds. Gibran had previously promised to maximize Islamic college endowment funds to develop students’ skills if he won the 2024 presidential election.

He expressed this during the election campaign at the Asshidiqiyah Batuceper Islamic College, in the city of Tangerang, on Monday, December 4, 2023. More recently, Prabowo promised a cultural endowment fund program. This endowment fund, she said, was provided to encourage and support all cultural actors.

According to him, culture is a national character that we must be proud of, respected and preserved. “We Prabowo-Gibran plans to have a cultural endowment fund to encourage support from all actors, our cultural actors in all fields. “This is absolute for us,” Prabowo said in the 2024 presidential candidate debate at the Jakarta Convention Center (JCC), Jakarta, Sunday, February 4, 2024.

For information, the head of the Financial Education and Training Agency of the Ministry of Finance, Andin Hadiyanto, once spoke about the endowment funds of Islamic colleges. “So the Islamic College Endowment Fund is basically an inseparable part of the Education Endowment Fund which now amounts to IDR 106.1 trillion,” he said in mid-October 2023.

Meanwhile, the expenditure for the management of Islamic colleges provided in 2023 will reach IDR 250 billion. Management of the program is handled by the Ministry of Religion and funded by the Institute of Education Fund Management or LPDP.

Then, it was reported by the page itjen.kemdikbud.go.id, the cultural endowment fund or Indonesian Dana is provided by the government to support the development and achievements of cultural figures and channel their expressions. Management involves collaboration with the Education Fund Management Institute (LPDP).

Based on Tempo’s research, through data from the Ministry of Finance, the government has allocated plans to disburse cultural endowment funds amounting to IDR 2 trillion in 2024. However, the projection until December 31, 2024 is 7 trillion of IDR.

In 2023, the realization of cultural endowment funds will reach IDR 5 trillion. Although this figure is much lower than that of endowment funds in other fields, such as education, a rather drastic increase in cultural endowment funds was observed, while the previous year they were only IDR 3 trillion.

Announcement

In addition to the Islamic College Endowment Fund and the Cultural Endowment Fund supported by Prabowo-Gibran, the Governance of the State Revenue and Expenditure Budget (APBN) also mentions the Educational Endowment Fund or endowment fund in the field of education.

What is the Education Endowment Fund?

Reported by the official page anggaran.kemenkeu.go.id, it is stated that endowment funds in the education sector are funds of a perpetual nature aimed at ensuring the continuity of educational programs for the next generation and cannot be used for expenditure. This is governed by Perpres Regulation no. 111 of 2021 relating to endowment funds in the education sector which replaces Presidential Decree no. 12 of 2019.

In its history, eternal fund of education This amount was initially invested by the government in 2010 in the amount of IDR 1 trillion and continues to be developed to this day. The concept is to allocate part of the education budget in the APBN as the National Education Development Fund or DPPN to the Public Service Agency (BLU). In this case it is the LPDP that is managed.

The results of this management are then used to finance scholarships and research. The LPDP itself is a BLU under the Ministry of Finance. This DPPN was instead the forerunner of endowment funds in the education sector before the birth of other endowment funds, namely research endowment funds, cultural endowment funds and university endowment funds.

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Editors Choice: Prabowo-Gibran Promise Islamic College Endowment Fund and Cultural Endowment Fund: What is it?