Green and Resilience Financing Facility Investment Program (ADB-58238-002)

Countries
  • Nepal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Nepal
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 15, 2024

Disclosed by Bank Jul 12, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the objective of this project is to support preparation of the program.

The program is a complex and multisector undertaking, for which the government has requested technical assistance (TA) to support its preparation. The TA will help the government prepare full-scale due diligence in technical, economic, financial, social, environmental, and institutional aspects, including in-depth local socioeconomic and ecosystem assessments, as well as prepare the program road map, policy framework, undertaking, and provide necessary capacity development. The TA will contribute to operational priorities (OPs) 1, 2, 3, 4, 5, 6, and 7 under Strategy 2030 and to the ongoing country partnership strategy (CPS) objectives for Nepal, 2020-2024. It is also aligned with government priorities, ADB's country-level objectives and was confirmed and included in Nepal's country programming mission in 2023.

The proposed Green and Resilience Financing Facility Investment Program (GREFF) is a large-scale, transformative, and integrated initiative responding to the growing demand and urgent need to address the effect of climate change in Nepal. The program's concept was developed in response to the request of the Government of Nepal to upscale climate financing for adaptation and increase access to grant and highly concessional resources from both climate and development finance. It aims to bridge the financing, capacity, institutional, and technical gaps in implementing Nepal's National Adaptation Plan (NAP) and the adaptation measures mentioned in the Second Nationally Determined Contribution (NDC), and the green, resilient, inclusive development (GRID), while promoting mitigation, biodiversity, air quality, and food security as co-benefit. The facility will offer a blended pool of financing sources (including grants, concessional loans, and credit guarantees from both climate and development finance), technical support, and knowledge solutions to deliver predictable and accessible finance and knowledge solutions to governments, civil society, and the private sector.

The TA will require 162 person-months of consulting inputs from 14 international experts (48 person-months) and 21 national experts (114 person-months). ADB will select and engage a consulting firm using quality- and cost-based selection method, with 90:10 qualitycost ratio and full technical proposal procedure. In addition, individual consultants will be engaged (i) to work on the climate finance funding proposal; and (ii) after submission of the draft final report, to support start-up activities of the ensuing loan on as-needed basis. Contingencies may be allocated to recruit additional experts based on needs that will emerge during TA implementation. The Japan International Cooperation Agency's personnel may be utilized as resource persons for capacity development and enhancement of quality infrastructure initiatives based on their relevant experience and initiatives.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Grant (Japan Fund for Prosperous and Resilient Asia and the Pacific): US$ 2.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

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ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works