REPUBLIKA.CO.ID, JAKARTA -- The Indonesian government has set aside another Rp15 trillion in endowment fund for education. It was set to be state capital participation in the 2018 state budget, Vice Finance Minister Mardiasmo said.

"If the endowment fund has been established, we will look at it. We have so far used gains on its investment," Mardiasmo stated, after a ministerial level meeting at the Coordinating Ministry for Human Development and Culture here, on Monday.

He noted that the government is in the process of formulating a presidential regulation to lay a legal basis for the realization of endowment fund for education.

He remarked that the presidential regulation will make the management of the endowment fund through LPDP more comprehensive and applicable to the entire nation in accordance with President Joko Widodo's directives.

"We will only continue the existing LPDP by increasing the number of needs in accordance with proposals from each ministry or non-ministerial government institution," he remarked.

At the meeting, some participants came up with a number of proposals, including the use of the endowment fund for scholarships for vocational education and non-degree education and for senior foreign researchers to come to Indonesia.

"As such, LPDP will really become optimal and useful for the entire Indonesian nation," he revealed.

LPDP is currently managing trust fund worth around Rp31 trillion. It uses gains on the investment of the trust fund for scholarships.

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