Endowment Fund Expected To Create Golden Generation

Jakarta (Antara Bali) - Finance Minister  Bambang P.S. Brodjonegoro has said endowment fund held by the Education Fund Management Agency (LPDP) is expected to help create golden generation in Indonesia  in 2045.

"With the support from the education endowment fund, we hope we could create a golden generation in 2045," the minister said  here on Thursday.

He said currently LPDP holds Rp15.6 trillion in endowment fund in allocations from the state budgets 2010-2013.

He hoped the fund would would be sustained that Indonesia would be competitive in human resources more than in natural resources in 2045.

In 2045, it is expected that 75 percent of Indonesian youths of 19-23 years in age are studying at high educational institutes, he added.

He said currently Indonesia has good momentum with domination of productive age  until 2035 with declining proportion of people of advanced age  and young children.

"We must utilize the momentum of demographic bonus  and make sure that people of productive age are knowledgeable  and highly innovative. This is the importance of development of education to create a golden generation in 2045," he said.

He called for active participation of all in the control of the spending of the fund to ensure that the fund is properly used.

"Transparency  and accountability are important in the management of the fund that it would benefit the state," he said.

Based on data at the finance ministry  until the first half of 2015, there were 6,335 recipients of LPDP scholarship including 4,543 scholarship for master degree  and 878 for doctorate.  (WDY)