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Lippo Group committing $83 million to education in East Nusa Tenggara province

posted Sep 27, 2012, 12:06 AM by Brook Ross
The Lippo Group has committed to investing in the development of education facilities in East Nusa Tenggara province.  “I am planning to invest in the education sector in East Nusa Tenggara. The total fund that will be invested is Rp 800 billion [$83 million] for a period of five to seven years,” the Lippo Group’s chief executive officer, James T. Riady, told journalists in Kupang, the province’s capital, on Tuesday.

James, who came with the leaders of nine leading US universities, said he hoped the funds would draw more investment to East Nusa Tenggara.  He did not detail which schools or universities would receive the funding, but said the investment was aimed at improving local education as well as elevating student performance to national standards.