Nepal Breaking NewsFinanceThe World Bank has provided Nepal with a $12 billion loan to...

The World Bank has provided Nepal with a $12 billion loan to boost the education and health sectors

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NepalR7;s health and sectors will receive roughly Rs. 12 billion (US $100 million) from the . The grant authorized by the World Bank’s executive committee on Thursday.

Nepal has received $50 million in education funding and $50 million in health funding. This money will go toward government school quality improvement projects and health-care public .

The program, according to Faris H. Hadad-Zervos, Director of the World Bank’s Sri Lanka, Maldives, and Nepal, is targeted at boosting Nepal’s education and health sectors, particularly for the poor and rural people.

“The program’s goal is to assist the epidemic’s impact on the education and an environment that encourages youngsters to return to school,” he said.

The World Bank has set Rs. 6.9 billion for a government school educational quality enhancement program. This program will assist in reuniting youngsters who have been denied access to education owing to a variety of scholarship schemes and other factors.

The World Bank’s “Nepal Health Sector Strategy” program will help manage public resources in the health sector and will extend the deadline by one year. It is also expected to aid in the development of an integrated strategic health-care plan for the prevention, control, and treatment of the COVID-19 outbreak.

Nepal has inked a Rs 16 billion financing arrangement with the World Bank for the post-COVID-19 recovery program. In a similar vein, the World Bank has committed to spending $4 billion on initiatives in 50 countries, including Nepal.

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