Reforms to Accelerate Investment and Scale Employment - FMRF (Subprogram 1) (ADB-59303-001)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
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
B
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
  • Agriculture and Forestry
  • Finance
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 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.
Loan Amount (USD)
$ 150.00 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.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Feb 9, 2026

Disclosed by Bank Dec 5, 2025

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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.

The Reforms to Accelerate Investment and Scale Employment (RAISE) in Nepal program (the Program) will support the government's efforts to enhance the business environment and address constraints to private sector investment and quality job creation in Nepal. It aims to do so through strengthening cross-cutting growth enablers; improving access to productive inputs; and facilitating greater investment, including in high potential growth sectors at the federal level and in one pilot province. It builds on earlier ADB support that has helped modernize the country's electricity infrastructure; promote sustainable investment across sectors; develop resilient agriculture sector; strengthen trade facilitation; and improve public sector management to expand fiscal space for productive investments at the national and subnational level.

PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY

Country context. Nepal is a landlocked lower middle-income country in South Asia with a population of about 30 million, a gross domestic product (GDP) of $42.9 billion in FY2024, and a gross national income per capita of $1,430 (Atlas method) in 2023. Despite a multitude of shocks over the last 30 years, including a decade-long civil war, two devastating earthquakes in 2015 and 2023, and the COVID-19 pandemic, Nepal's GDP growth has shown resilience, averaging 4.3% from FY1996 to FY2024. Nevertheless, Nepal's economic trajectory continues to diverge from its regional peers, with neighboring India growing 6.1% per year and Emerging and Developing Asia growing 6.8% per year over this same period.

IMPACT

OUTCOME

 

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

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.
Responsible ADB Officer: Narain, Ashish
Responsible ADB Department: Sectors Department 3
Responsible ADB Division: Public Sector Management and Governance Sector Office (SD3-PSMG)
Executing Agencies:Ministry of Finance

ACCESS TO INFORMATION

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

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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