Kathmandu: The World Bank’s Board of Executive Directors has approved USD 60 million to improve the quality of Nepal’s higher education. The amount will be used to scale up online learning and expand access to academic institutions for underprivileged and vulnerable students.
“The Covid-19 pandemic has highlighted the critical importance of building back better and prioritizing human capital development,” stated Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.
“Improving access to quality higher education and helping students acquire the skills that are in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience,” he added.
The ‘Nurturing Excellence in Higher Education Program’ builds on Nepal’s previous successful higher education projects supported through results-based financing. It will help the government of Nepal to align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students, World Bank stated in a press release.
“A key priority of the program is to promote the inclusion of disadvantaged students, including those facing economic hardship due to Covid-19,” stated Mohan Aryal, World Bank’s Program Task Team Leader.