The World Bank will provide $60 million to Nepal to improve the quality of Nepal's higher education, scale up online learning, and expand access to academic institutions for underprivileged and vulnerable students. The lender’s board of executive directors approved funding for it. 

"The COVID-19 pandemic has highlighted the critical importance of building back better and prioritizing human capital development," Faris Hadad-Zervos, World Bank country director for Nepal, Maldives, and Sri Lanka, was quoted as saying by The Himalayan Times. 

He further added, "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." 

The program will sync 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.

The pandemic provided opportunities and incentives to expand online platforms and blended learning and through the programs, Nepal’s universities would be equipped with these necessary changes.

Mohan Aryal, World Bank's program task team leader, said the inclusion of disadvantaged students and those facing economic hardships will be a key priority in the program.

"The program will expand targeted scholarships to help disadvantaged students pursue labor market-driven academic programs and support equity grants to higher education institutions in needy and disaster-affected areas in Nepal,” he said.

The World Bank remains one of the biggest sources of funding for education sectors in developing countries. 

(SAM)