The World Bank has agreed to provide additional financial assistance of USD 50 million (Rs. 5.87 billion) each to enhance education and health sector of Nepal.
The government and the World Bank Wednesday signed two separate additional financing agreements of USD 50 million each to support the implementation of the government’s flagship School Sector Development Programme in the education and public management reforms in the health sector.
Finance Secretary Madhu Kumar Marasini and World Bank Country Director for Nepal, Maldives, and Sri Lanka Faris Hadad-Zervos signed the agreements on behalf of their respective sides.
“Strengthening Nepal’s education and health systems is an essential element of building back better from the pandemic,” said Marasini. “The reform agenda championed by the Nepal Health Sector Programme for results is critical to Nepal’s vision of an efficient, effective, transparent and accountable health system and together with the School Sector Development Programme, provides a catalyst for improved human capital development enabling Nepal to compete strongly in post-COVID time.”
The additional financing to the School Sector Development Programme will help reduce dropouts and mitigate learning losses by supporting pro-poor targeted scholarships, pro-science scholarships, and catch-up programmes, according to a press statement of the WB.
It will lay the foundation for the next school sector successor programme in two areas – assessment and data systems, and help create the fiscal space to fill the gap in financing the government’s flagship programme.
Similarly, the additional financing for Nepal Health Sector Management Reform Programme for Result will support the original Nepal Health Sector Management Reform Programme for results implemented under the leadership of the Ministry of Health and Population. It spearheads reforms in public procurement, financial management, data for decision making and citizen engagement for greater accountability in the health sector.
“These engagements contribute to Nepal’s green, resilient, and inclusive development by making the country’s education and health systems more inclusive and resilient to future shocks, which will in turn help to accelerate human capital development,” said Faris Hadad-Zervos.
“I am very hopeful that that the additional financing will help propel Nepal closer to its goal of universal health coverage, and ensure equitable access and improve the quality of education and learning outcomes for children and young people in Nepal.”
Source : TRN,