This project will fund the provision of infrastructure and basic services in the participating municipalities of Nepal's Terai region.
This project is part of AIIB's Project Preparation Special Fund. According to AIIB's website, this Fund "provides grants to support and facilitate the preparation of projects to be financed by AIIB in eligible member countries (International Development Association recipients, including International Development Association Blend countries)." Additional information about the fund is available at: https://www.aiib.org/en/projects/preparation-special-fund/index.html.
Government of Nepal - USD17 million
Municipality - USD7 million
Team Leader/Investment Operations Specialist (Urban)
Tel: +86 10 8658 0380
Yug Raj Pandey
Ministry of Finance
Padma K. Mainalee
Department of Urban Development and Building Construction (DUDBC)
Ministry of Urban Development
ACCOUNTABILITY MECHANISM OF AIIB
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.