The additional financing will be provided to strengthen Nepal's school and health sectors
KATHMANDU, JULY 9
The World Bank has decided to provide Nepal with additional $100 million to support the implementation of the government's flagship School Sector Development Program, and improve efficiency in the public resource management systems of Nepal's health sector.
The Board of Executive Directors of WB today approved two separate additional financings of $50 million each to strengthen the government school and health sector.
"Strengthening Nepal's school sector and building resilient health systems are critical for human capital development, particularly for poor and vulnerable populations," stated Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.
"Through this support to the Government of Nepal, we aim to mitigate learning losses and ensure that children return to schools, and improve efficiency of spending and fiscal space for delivering quality and accountable healthcare services to contribute to Nepal's COVID-19 recovery."
According to the statement issued by the World Bank Nepal, the Additional Financing to the School Sector Development Program will help reduce dropouts and mitigate learning losses by supporting pro-poor targeted scholarships, pro-science scholarships, and catch-up programs.
Meanwhile, the Additional Financing for Nepal Health Sector Management Reform Program for Results will support the implementation of Nepal's Health Sector Strategy in the one-year extension phase and sustain the gains accrued thus far in public resource management reforms of the health sector, the statement added.
It will also provide critical financing in a resource-constrained COVID-19 environment to build resilient health systems, and prepare Nepal to implement its next health sector strategy, World Bank said.