This report is a joint publication of the Institute for Integrated Development Studies (IIDS) and the Confederation of Nepalese Industries (CNI). The major objectives of the report are to estimate infrastructure investment needs and gaps, build a strong case for the increased role of the private sector for infrastructure development in Nepal, and recommend policy and institutional reforms. The report was prepared as a combined effort of a study team of the IIDS and another team of experts from energy, transport, water and sanitation, and urban development sectors. The IIDS team included Dhruba Bhandari, PhD (Senior Economist, IIDS), Nayan Krishna Joshi, PhD (Senior Economist, IIDS), and Saurab Man Shrestha (Economist, IIDS). The team of sector experts included Devendra Adhikari (energy), Dinesh Manandhar, PhD (water and sanitation), Kamal Pande (transport), Kirti Kusum Joshi, PhD (urban development), Sanjaya Adhikary (water and sanitation), and Suman Prasad Sharma (water and sanitation). The study team benefited significantly from the guidance and inputs of Bindu Nath Lohani, PhD (member, CNI think tank) and Ram Manohar Shrestha, PhD (Emeritus Professor, Asian Institute of Technology (AIT)).