Jakarta, June 14, 2005
— The International Finance Corporation, the private sector arm of the World Bank Group, today announced the award of a grant to support recovery of the education sector in Nanggroe Aceh Darussalam, a part of Indonesia heavily affected by the Indian Ocean tsunami. IFC will provide a $200,000 grant (equivalent to 1.9 billion rupiah) to the Sampoerna Foundation.
The foundation was selected to receive this grant assistance in recognition of its long-term dedication to the development of education in Indonesia. More recently, it has successfully established and managed emergency school tents in Aceh. These continue to operate, demonstrating the foundation’s ability to fulfill its commitments in varied and often difficult circumstances.
The grant is provided as an expression of concern by IFC member countries about the impact of the recent natural disaster. It is intended to contribute to recovery in Aceh. ” A solid foundation in education helps young people achieve their potential. The children of Aceh must get back to their studies in proper schools as soon as possible,” said IFC Country Manager German Vegarra. ”IFC has selected the Sampoerna Foundation because of its high level of professionalism and commitment to accountability. It has a track record of improving conditions in education in Aceh that we want to support.”
Elan Merdy, Chief Operating Officer for the Sampoerna Foundation said, ”This grant demonstrates the confidence of international organizations in local institutions. We will live up to this confidence by implementing a beneficial, high-quality program. We will ensure transparency in administering the grant so that the people of Indonesia can see how the funds are being used.”
About the Sampoerna Foundation
Sampoerna Foundation is a nonprofit organization active in the education sector. It was established in 2001 by Putera Sampoerna and the shareholders of PT. HM Sampoerna Tbk. The foundation provides opportunities for students with good academic performance from financially needy families to continue their studies through scholarships. The foundation imbues these scholars with a strong sense of social responsibility through the programs and other activities, so that they will become top quality human resources for the future of Indonesia.
Through March 2005, the Sampoerna Foundation had provided scholarships to 12,110 high school students from 2,197 state schools throughout Indonesia; 1,000 scholarships to junior high school students; 97 scholarships to students in the S1 undergraduate program at state universities; 93 scholarships to students in the S2 undergraduate program at state universities; and 10 scholarships to students for undergraduate degree studies abroad. To date, 1,300 high school scholarship recipients have graduated, while 61 college-level students have finished their S2 programs.
About IFC
The mission of IFC (
www.ifc.org)
is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. From its founding in 1956 through FY04, IFC has committed more than $44 billion of its own funds and arranged $23 billion in syndications for 3,143 companies in 140 developing countries. IFC’s worldwide committed portfolio as of FY04 was $17.9 billion for its own account and $5.5 billion held for participants in loan syndications.
