Nepal: Urban Infrastructure Investment Project (AIIB-000028)

Countries
  • Nepal
Where the impacts of the investment may be experienced.
Specific Location
Terai region, Nepal
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Nepal
The holder of the loan, grant, or other investment.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 25, 2018


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Project Description

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.

 

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

Contact Points
AIIB:
Sangmoo Kim
Team Leader/Investment Operations Specialist (Urban)
Tel: +86 10 8658 0380
E-mail: sangmoo.kim@aiib.org


Borrower:
Yug Raj Pandey
Under Secretary
Ministry of Finance
Nepal
Email: ypandey@mof.gov.np

Implementation agency:
Padma K. Mainalee
Joint Secretary
Department of Urban Development and Building Construction (DUDBC)
Ministry of Urban Development
Nepal
E-mail: pkmainalee@hotmail.com

 

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.