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View all search resultsPrabowo to allocate seized money to fund LPDP scholarships
During a cabinet meeting on Oct 20, the day of his administration’s one-year anniversary, President Prabowo Subianto said some of the Rp 13 trillion (US$785 million) seized in a high-profile palm oil corruption case should be allocated for Endowment Fund for Education (LPDP) scholarships.
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The logo of the Endowment Fund for Education (LPDP) is seen through a magnifying glass on Nov. 9, 2024. (Shutterstock/Iljanaresvara Studio)
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resident Prabowo Subianto ordered that some of the money seized from palm oil companies in a corruption case be allocated for Endowment Fund for Education (LPDP) scholarships, despite the government cutting the program’s quota and streamlining its focus for the science, technology, engineering and mathematics (STEM) fields.
In a speech delivered during a plenary cabinet meeting on Monday, which marked the first anniversary of Prabowo and Vice President Gibran Rakabuming Raka’s administration, the President reaffirmed his commitment to improving Indonesia’s human resource quality by expanding access to higher education, including at top universities overseas.
“We want Indonesia to excel in science and technology. [...] We need bright children [to become] engineers, professors, mathematicians and experts in all fields of technology,” he said, adding that the country’s natural resources, including so-called critical minerals, should be managed by Indonesia’s own scientists and experts.
He argued that many academically gifted children come from lower-income families, urging ministries in the cabinet to find them so the government can fully fund their studies.
“I will increase the LPDP fund using money saved from austerity measures and funds recovered from corruption convicts,” the President said.
Read also: Prabowo takes over Rp 13 trillion seized from palm oil firms
Earlier on Monday, Prabowo attended the ceremonial handover of Rp 13 trillion (US$785 million) seized by the Attorney General’s Office (AGO) from a high-profile corruption case pertaining to palm oil export permits.
