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Indonesia Endowment Fund for Education (LDPD) President Director Andin Hadiyanto speaks during a hearing meeting with Commission IX of the House of Representatives here on Wednesday (january 26, 2022). ANTARA/Sanya Dinda - 

The endowment fund managed by Indonesia Endowment Fund for Education (LPDP) reached Rp99.10 trillion by 2021-end, according to LPDP President Director Andin Hadiyanto.

The endowment fund comprises education endowment at Rp81.11 trillion; research endowment, Rp7.99 trillion; higher education endowment, Rp7 trillion; and cultural endowment, Rp3 trillion.

“If we look at the history, the endowment fund started from Rp1 trillion in 2010, and it was then added. Thereafter, we utilized its development results as optimally as possible for research and scholarship,” Hadiyanto noted during a hearing meeting with Commission IX of the House of Representatives here on Wednesday.

The government has disbursed Rp29 trillion of the total endowment fund in 2021, comprising Rp20 trillion for education, Rp3 trillion for research, Rp4 trillion for higher education, and Rp2 trillion for culture.

The endowment fund managed by LPDP in 2021 has contributed Rp4.49 trillion to non-tax state revenue (PNBP), he remarked.

The PNBP was obtained from the transfer of some managed funds from deposits, whose interest rates on government securities (SBN) decreased significantly last year, he added.

In 2021, LPDP also granted scholarships, totaling Rp1.8 trillion, to 4,266 awardees, he noted, adding that only 680 awardees were granted scholarships last year due to the spread of COVID-19.

The LPDP also collaborated with the Education, Culture, Research, and Technology Ministry to grant scholarships, worth Rp838.36 billion, to 67,327 awardees in 2021.

The scholarships were awarded to 2,182 degree program awardees and 65,146 non-degree or Kampus Merdeka Belajar (Independent Learning Campus) program awardees.

The LPDP also financed 17 new research contracts and three further research contracts valued at Rp324.47 billion//ANT