WASHINGTON, June 11, 2021 – The World Bank Board of Directors today approved $ 60 million to improve the quality of higher education in Nepal, intensify e-learning and expand access to academic institutions for disadvantaged students and vulnerable.
“The COVID-19 pandemic has highlighted the crucial importance of better rebuilding and prioritizing the development of human capital”, declared Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka. “Improving access to quality higher education and helping students acquire skills in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience. “
the Program to promote excellence in higher education builds on Nepal’s previous successful higher education projects supported by results-based funding. It will help the Nepalese government to align its higher education sector with the needs of the labor market, stimulate collaborative research and entrepreneurship, improve governance and access to quality higher education, especially for disadvantaged students. The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help develop at universities in Nepal.
“A key priority of the program is to promote the inclusion of disadvantaged students, including those facing economic hardship due to COVID-19”, declared Mohan Aryal, World Bank Program Task Team Leader. “The program will expand targeted scholarships to help disadvantaged students pursue labor market-oriented academic programs and support equity grants to higher education institutions in needy and disaster-affected areas in Nepal.
The World Bank, one of the largest sources of finance and knowledge for developing countries, is taking broad and swift action to help developing countries respond to the health, social and economic impacts of COVID-19. This includes $ 12 billion to help low- and middle-income countries purchase and distribute COVID-19 vaccines, tests and treatment, and strengthen immunization systems. The funding builds on the World Bank Group’s broader response to COVID-19, which is helping more than 100 countries strengthen their health systems, support the poorest households, and create enabling conditions to maintain livelihoods and jobs of those hardest hit.