Indonesia's Funding Allocation Reaches Rp2 Trillion in 2024, Supporting Empowered Artists

Economics & Macro

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Nabilah Muhamad 18/05/2024 08:59 WIB

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According to the Ministry of Finance's report, the government allocated Rp25 trillion to the Endowment Fund in 2024. The culture sector received the lowest allocation, at only Rp2 trillion.

Indonesia's Endowment Fund Allocation by Sector (2024)

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Indonesia's Funding Allocation Reaches Rp2 Trillion in 2024, Supporting Empowered Artists

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Indonesia's Endowment Fund Allocation by Sector (2024)

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The Ministry of Finance (Kemenkeu) reported disbursing Rp139.11 trillion in Endowment Funds between 2012 and 2023.

The Endowment Fund is managed by the Indonesia Endowment Fund for Education (LPDP) under the Kemenkeu. Its funding consists of 20%, or Rp20 trillion, from the education budget in the State Budget (APBN), as well as investment income.

The Endowment Fund budget for 2024 is Rp25 trillion. By the end of this year, the disbursement of the Endowment Fund is projected to accumulate to Rp164 trillion.

The largest allocation of the Endowment Fund is channeled to education, reaching Rp15 trillion in 2024. Research and higher education each receive Rp4 trillion.

Meanwhile, the Cultural Endowment Fund, known as Dana Indonesiana, receives a Rp2 trillion budget in 2024.

Dana Indonesiana is used to support activities of Indonesian cultural figures and artists. This grant funding can be given to groups or individuals.

One of the beneficiaries is local artists in the film sector. At least 50 domestic films were showcased in 24 international film festivals across 18 countries in 2023 thanks to this funding.

“This is the highest achievement in the history of national filmmaking, demonstrating concrete evidence of the effectiveness of the government's strategy and facilitation in supporting the film industry,” said Ahmad Mahendra, Director of Film, Music, and Media at the Directorate General of Culture, Ministry of Education, Culture, Research, and Technology (Kemendikbudristek), in a statement reported by Antara on Wednesday, February 14, 2023.

Ahmad explained that the government has taken strategic steps to increase film appreciation through various programs. One of them is Indonesiana Film, a screenplay writing workshop mentored by professors from the University of Southern California to develop Indonesian local narratives.

“This program aims to produce strong stories with moral values and local wisdom, while also increasing exposure and income for the filming locations,” said Mahendra.

(See also: 2024 State Budget: LPDP Receives an Additional Rp25 Trillion Next Year)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."