World Bank Extends $60 Million Support to Nepal for Technical Education

Enhanced Vocational Education and Training Project (EVENT) in Nepal has been granted a 60 million dollar credit by the World Bank.

The project development objectives are to improve equitable access to market relevant training programs and to strengthen the Technical and Vocational Education and Training (TVET) sector service delivery in Nepal. This project will also help migrants through training and skill testing and certification.

Takuya Kamata, the World Bank’s Country Manager for Nepal said, “Skill development of the workforce through investment in human capital including technical and vocational education and training are critical for the successful implementation of the country’s emerging jobs agenda.”

According to the Bank, the project will support Nepal at different levels including the system, the institution, and the individual.

Every year between 450,000 and 500,000 Nepali youth come of working age. Most of these youth opt to go abroad and enter the labor market with limited education and skills.

Government and non-government organizations have steadily increased its trainings to the migrant workers but they are still unable to meet the international standards.