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View all search resultsC to use trust fund next year
JAKARTA: National Education and Culture Minister Muhammad Nuh said on Friday that the ministry would start using endowment funds from the state budget for education worth Rp 3
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J
AKARTA: National Education and Culture Minister Muhammad Nuh said on Friday that the ministry would start using endowment funds from the state budget for education worth Rp 3.6 trillion (US$406.8 million) next year.
”The money will be allocated for scholarships and other urgent spending needs such as during times of disaster,” he said as quoted by tempointeraktif.com.
The minister further said that the endowment fund had generated bank interest of more than Rp 100 million per year.
Nuh said the details of how the fund would be spent were still being discussed in a meeting led by Vice President Boediono.
He added that the government would establish a team by the end of this year to be in charge of spending the money.
According to the minister, the endowment fund would be temporarily managed by PT Penjamin Investasi Pemerintah until a permanent team is formed.
