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.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 76.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 76.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 29, 2020


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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)

Co-financing: 

Government of Nepal - USD17 million

Municipality - USD7 million

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

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.