Education, Culture, Research and Technology Minister Nadiem Makarim has announced that the government would start annually rewarding Rp 6 billion (US$402,000) to every state university that is able to set up and manage its own endowment fund beginning this year.

The incentive, to be disbursed with the help of the Finance Ministry and its Endowment Fund for Education (LPDP), will be given as seed funding for every new endowment fund successfully established, but the sum could change depending on an institution’s academic performance.

Speaking at a press conference on Monday, Nadiem said that investing in higher education institutions was the quickest way to help develop Indonesia, even though state universities had largely been lacking financial support.

Source:
courtesy of THE JAKARTA POST

by Dio Suhenda (The Jakarta Post)

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