The GREFF is a large-scale, transformative program designed to address Nepal’s climate vulnerabilities through strategic planning, financing mechanisms, and capacity development. It aims to create a financing facility offering grants, concessional loans, and guarantees to support climate adaptation projects. The program aligns with Nepal’s National Adaptation Plan (NAP), Nationally Determined Contributions (NDC), and the GRID framework, aiming for systemic change through four key outputs: strengthened policy frameworks, finance-ready subprojects, accessible financing, and mobilization of future resources.

Description of actual services provided within the assignment:

• A comprehensive climate vulnerability assessment and barrier analysis will be conducted, mapping Nepal’s exposure to hazards and identifying financial, institutional, and technical gaps.
• A strategic framework for GREFF will be developed, aligned with the National Adaptation Plan (NAP), Nationally Determined Contributions (NDC), and GRID platform, defining tranche-based visions, objectives, and theory of change.
• The facility’s multi-window financing structure (concessional loans, grants, credit guarantees, TA) will be designed, including:
• The formulation of eligibility and selection criteria for subprojects and sub-borrowers
• Drafting of operational procedures, digital monitoring tools, and the Facility Administration Manual (FAM)
•  A pipeline of finance-ready subprojects and integrated resilience packages will be shaped by:
• Incorporating climate-smart technologies, gender equality & social inclusion (GESI) measures, and environmental safeguards
• Advising on watershed-based, ecosystem-sensitive interventions to maximize co-benefits
• Economic and financial analyses (cost–benefit, financial IRR, contingent valuation) will be performed, and due-diligence protocols will be developed in line with ADB’s Environmental and Social Management System (ESMS).
• An in-depth policy and institutional review of the proposed Financial Intermediation Loan (FIL) will be conducted, and capacity-building plans will be designed to strengthen government and partner institutions.
• Support will be provided for the accreditation of Financing Facility Implementation Partners by assessing their ESMS, financial management systems, and governance arrangements.
• Inclusive stakeholder consultations will be facilitated, engaging ministries, development partners, the private sector, civil society (with emphasis on marginalized groups), and community representatives to validate design choices and build ownership.
• Core ADB documentation will be prepared, including inputs to the Report and Recommendation of the President (RRP), tranche-1 Periodic Financing Request (PFR), Framework Financing Agreement (FFA), and initial funding proposals to the Green Climate Fund (GCF).