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$65 billion loan by World Bank to Education Reform Project

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Kathmandu, April 6, 2015:  A concessional loan assistance of 65 million US dollars will be provided by The International Development Association (IDA) of the World Bank Group for the implementation of the Higher Education Reform Project in Nepal.

According to the Ministry of Finance, 60 million USD will be utilized for implementation of reforms activities in higher education out of the total concessional loan while remaining 5 million USD will be used for capacity development and project management.

As a continuation of the Second Higher Education Project, five-year project will be implemented by The University Grant Commission, Tribhuvan University and Student Financial Assistance Fund Development Board. The project aims to support Nepal’s National Programme for Higher Education Reform and Development for improving quality, relevance and efficiency of higher education by ways of financing reforms in selected institutions .

At the Ministry of Finance Suman Prasad Sharma and World Bank Country Manager Takuya Kamata, an agreement was signed by Secretary.

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