Investment Board Nepal (IBN) has approved its Strategy and Business Plan 2081–86, outlining ambitious targets for infrastructure development under the public-private partnership (PPP) model. The plan was endorsed during a board meeting held last Sunday.
According to IBN spokesperson Pradyumna Prasad Upadhyay, the strategy outlines key projects and goals to be pursued over the next four years, including investment targets and institutional reforms. He emphasized that the plan is highly ambitious but achievable if favorable investment conditions, proper human resource management, and supportive laws are ensured.
As per the strategic plan:
- 11 major projects worth USD 8.95 billion are targeted for completion by FY 2085/86. Even if all are not completed, at least five projects worth USD 4.7 billion are expected to come into operation.
- Seven projects valued at USD 2.83 billion are expected to reach the construction phase by the same period.
- 14 projects totaling USD 5.55 billion are targeted to enter final-stage construction.
- 57 projects worth USD 24.30 billion will be added to the pipeline for feasibility studies.
- 52 projects valued at USD 23.50 billion will be taken to the procurement stage.
- 42 projects worth USD 17.95 billion will reach the negotiation phase for Project Development Agreements (PDA) and Project Implementation Agreements (PIA).
- 32 projects estimated at USD 15.70 billion will be progressed to financial management and pre-development stages.
- Over the next four years, approvals are expected for up to 67 private sector-led projects worth USD 7.45 billion, and 25 additional projects by other entities worth USD 3.15 billion.
To support the implementation of this plan, the Board has proposed a new organogram that includes four key directorates:
- Planning, Administration, and Financial Management
- Public-Private Partnership
- Investment Promotion and Facilitation
- Project Development and Management
Each directorate is expected to be led by an official of at least joint-secretary rank. An Organization and Management (O&M) Survey is also planned to reform the Board’s structure.
Despite the bold targets, the Board’s past performance raises concerns. Since its inception, IBN has approved Rs 1,200 billion in investments across 38 projects. However, many of its planned reforms and facilities have faced delays or remain ineffective. These include:
- The underperforming one-stop service center
- Shortages of skilled manpower
- Delayed execution of board decisions
- Lack of a dedicated investment fund
- Unfulfilled plans to establish the Land Acquisition Fund and Viability Gap Funding mechanism
- Continued reliance on donor agencies for staffing and technical support
The strategic document underscores a significant leap in ambition, aiming to transform IBN into a more dynamic and results-driven institution over the next four years.
