World Bank approves $65 million aid for education in Nepal

KATHMANDU: The World Bank has approved USD 65 million as assistance for higher education reforms in Nepal to help address the human resource needs of the country.

The project aims to support reforms in selected institutions for improving quality, relevance, and efficiency of higher education and to assist underprivileged students for equitable access, according to a press release issued by the World Bank's country office here.

"The project will focus on implementation of reforms in different areas including more effective public funding of higher education institutions, institutionalisation of the national accreditation system, greater institutional autonomy, strengthening of the examination system, expansion of new academic programmes and research and financial support for underprivileged students.

"Investing in human capital is critical for Nepal," said Takuya Kamata, the World Bank's country manager for Nepal.

"This project will help support key institutional reforms in the higher education sector allowing graduates - including those from disadvantaged backgrounds - to acquire relevant and higher quality skills to be better able to respond to labour market needs," he said.

The project is expected to benefit 500,000 students in 150 public colleges.