The World Bank Friday approved a US$ 65 million credit for the Nepal Higher Education Reforms Project to help address the human resource needs of the country and add to the national knowledge base.
The project intends to support reforms in selected institutions for improving quality, relevance, and efficiency of higher education; and to assist under-privileged students for equitable access, the World Bank stated in a news release today.
The project will focus on implementation of reforms in different areas including more effective public funding of higher education institutions, institutionalization of the national accreditation system, greater institutional autonomy, strengthening of the examination system, expansion of new academic programs and research and financial support for under-privileged students, the news release reads.
The project is expected to be completed by June 2020. Government of Nepal through a subsidiary loan agreement relends the total loan to NEA to implement the project.
On the occasion, Joint Secretary Marasini, on the behalf of the government, expressed sincere appreciation to the World Bank for the assistance and for its continued support in the socio-economic development of Nepal.