The World Bank (WB) has agreed to provide additional financial assistance of US Dollar 50 million each to enhance education and health sectors in Nepal.

The financing agreements aim to support the implementation of the government's flagship School Sector Development Programme in the education sector and public management reforms in the health sector, the WB said in a press statement on Wednesday.

Finance Secretary Madhu Kumar Marasini and WB Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, signed the agreements on behalf of their respective sides here today.

On the occasion, Secretary Marasini insisted that strengthening education and health systems was an essential element of 'building back better' from the pandemic. "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 complete strongly post-COVID."

Similarly, the WB Country Director said," 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."

He expressed his hope that the additional financing would 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.