This country programme evaluation covers over a decade of IFAD’s cooperation with Nepal (1999-2012). IFAD’s support during the evaluated period has concentrated on rural poverty alleviation through integrated agricultural and rural development programmes;  leasehold forestry; and agricultural value chain development. Overall, the IFAD/Nepal partnership is assessed to be moderately satisfactory, considering improvements in the later part of the period evaluated. The IFAD-supported programme portfolio is rated moderately satisfactory mainly owing to recent improvements in support to leasehold forestry and the satisfactory performance of the IFAD-cofinanced Poverty Alleviation Fund. While the overall portfolio is relevant and many quantitative targets were achieved, sustainability and innovation were less successful, and IFAD-supported programmes had a very wide geographical and thematic spread. Rural finance was the least successful part of the overall portfolio