Kathmandu, July 16 — The 18th Senate Meeting of Lumbini Buddhist University (LBU) has taken significant steps towards academic and institutional advancement, including the approval of a budget of NPR 495.9 million for the upcoming fiscal year and the establishment of an Academic Credit Bank.

The meeting, chaired by Prime Minister and Chancellor KP Sharma Oli, was held at the Prime Minister’s residence in Baluwatar. Registrar Dr. Tilak Ram Acharya presented the budget proposal, which, along with the university’s annual policy and programs, received approval from the Senate.

A major outcome of the meeting was the decision to establish an Academic Credit Bank, a pioneering initiative in Nepal’s higher education. This system will enable students who left their studies incomplete at any university to store their earned academic credits and later resume and complete their education to obtain a degree. The university will develop and implement necessary regulations to operationalize this system.

The Senate also decided to establish a School of Law and approved the master plan of the Devdaha Education Development Project. Several amendments to existing university regulations were passed, as informed by the Member Secretary and Registrar, Dr. Acharya.

Addressing the assembly, Prime Minister Oli emphasized the need to integrate Buddhist philosophy across various academic disciplines. He directed that all university programs should embody the principles of Buddhist thought and wisdom.

Co-Chancellor and Minister for Education, Science, and Technology, Mr. Raghujī Pant, underscored the necessity of designing academic programs that elevate Lumbini as a global center for Buddhist studies. He emphasized that LBU should distinguish itself from other universities and become a prominent destination for global scholars interested in Buddhism.

Vice-Chancellor Prof. Dr. Subarna Lal Bajracharya highlighted the university’s strategic focus on internationalization, dual degree programs, and student-centric academic infrastructure. He mentioned that the university is prioritizing Buddhist-centered research and studies while creating facilities to attract international students.

Dr. Bajracharya also announced that infrastructure development has begun in Devdaha to accommodate up to 20,000 international students. This infrastructure is being designed to serve the university's needs for the next 50 years. The Senate approved to proceed with this ambitious development plan and appealed for support from donor agencies.

Currently, Lumbini Buddhist University operates two faculties, one school, two constituent campuses, and has affiliations and collaborations with 14 campuses. The total student enrollment stands at 2,922. The university’s financial management remains robust, with unsettled financial irregularities reported at only 0.5 percent.

The 18th Senate Meeting marks a pivotal moment in LBU’s journey to becoming a globally recognized center for Buddhist education and research, while simultaneously advancing its academic and infrastructural growth.