WASHINGTON: The World Bank has announced a $60 million (Rs. 7.2 billion) credit to Nepal to improve higher education quality.
According to a statement, the World Bank’s board of directors approved the funding on Friday. The funding will be used to assist poor and marginalized children with access to education, with a focus on online learning, according to the World Bank.
“The coronavirus pandemic has made us realize the need of cultivating skilled labor,” said Nepal’s country director Faris H Hadad Zervos.
The World Bank believes that the assistance will also help Nepal create a workforce with a focus on higher education. The primary purpose of the initiative is to persuade underprivileged persons who are facing financial difficulties as a result of the COVID -19 pandemic to pursue higher education.