President Joko Widodo (Jokowi) emphasized the need for Indonesia’s largest Muslim-based organization Nahdlatul Ulama (NU) to build an endowment fund to have a strong venture capital to finance its flagship and innovative programs.

Jokowi made the statement at the inauguration of the Nahdlatul Ulama executive board (PBNU) for the 2022-2027 period and the 96th anniversary of NU in Balikpapan, East Kalimantan, Monday.

“NU needs to have its own venture capital by building an endowment fund. Hence, NU has the power to finance flagship and innovative programs,” the president remarked.

According to Jokowi, NU should become a strong platform for its young professionals working in corporations, global start-ups, and global consultants.

“To support these innovations, NU should have effective innovation incubator centers,” he explained.

The president stressed that the government is prepared to offer major concessions to NU professionally.

“I have prepared it. This will become part of the efforts to strengthen NU’s independence and social entrepreneurship and become an important part of the transformation policy implemented by the government, especially for sustainable and inclusive green transformation, digital economic transformation, and improving our MSME,” he affirmed.

Source: Antara News