Nepal Infrastructure Bank Limited (NIFRA) has issued the country’s first-ever publicly listed Green Bond with technical assistance from the Global Green Growth Institute (GGGI) and financial support from the Korea International Cooperation Agency (KOICA). The issuance that took place on June 1, 2025, marked a historic milestone in Nepal’s journey towards building a green finance ecosystem.
The issuance, titled NIFRA Green Energy Bond 6%-2088/089, totals Rs 5 billion (approximately $36 million) with a 7-year tenure and an annual interest rate of 6%. The proceeds will exclusively support renewable energy initiatives, paving the way for cleaner and more resilient infrastructures in Nepal.
On 10 June, GGGI welcomed high-level representatives from the Government of Nepal, regulatory bodies, development partners, and the private sector to celebrate this landmark achievement and reflect on the broader implications for green economic growth, climate-resilient and sustainable development in Nepal.
Key speakers included Ain Bahadur Shahi Thakuri, Minister for Forests and Environment; Prof. Dr. R.P. Bichha, Member of the National Planning Commission; Tae-Young Park, Ambassador of the Republic of Korea for Nepal; and Mooheong Kong, Country Director of KOICA Nepal.
Minister Thakuri stressed Nepal’s commitment to national and international climate goals through its Nationally Determined Contributions (NDCs), National Adaptation Plan (NAP), and carbon trading mechanisms. He emphasized the importance of collaboration among donors, development partners, and stakeholders to provide further financial and technical solutions to climate change-related challenges, such as forest fires.
Ambassador Tae-Young Park extended his congratulations to the Government of Nepal, KOICA, NIFRA, and GGGI, as well as to the many experts, policymakers, and institutions who contributed to the issuance of the Green Bond. He also underlined the importance of public-private partnerships in climate efforts.
Highlighting Nepal’s leadership in the region, Dhani Ram Sharma, Joint Secretary, Ministry of Finance, stated Nepal’s aim to become a regional leader in sustainable finance. He referred to the first public Green Bond as a significant bridge to achieving the NDC and SDG goals.
Dr. Nabaraj Adhikari, Executive Director of the Securities Board of Nepal, congratulated all stakeholders on the successful issuance of the country's first public green bond.
Mooheon Kong, Country Director of KOICA Nepal Office, pointed out how the Green Bond issuance reflects Nepal’s strategic commitment to aligning its economic growth with climate goals and environmental responsibilities.
He extended his congratulations to NIFRA, GGGI, and all the partners involved in turning this ambitious goal into a reality and shared his appreciation to Nepal Rastra Bank (NRB) and the Securities Board of Nepal (SEBON) for their crucial role in reviewing and approving the bond issuance.
Krishna Bahadur Adhikari, CEO of NIFRA, thanked the overwhelming investor confidence, with the initial public offering being oversubscribed four times before its closing date on June 8, 2025. He expressed his gratitude to all stakeholders and regulators, acknowledging the swift and seamless execution facilitated by GGGI's technical assistance.
Laura Jalasjoki, Country Representative of GGGI, congratulated the successful collaboration between KOICA, GGGI, and NIFRA Bank, that has resulted in the mobilization of five billion Nepali rupees from investors to climate-resilient projects in Nepal.
With this important milestone, Nepal ventures on a greener journey and joins a growing global movement leveraging capital markets to combat climate change and unlock green economic opportunities for all.
