The main objective of the present study is to assess the impact of the project SWAPNO 3rd cycle on beneficiaries’ wellbeing, including income, expenditure and asset accumulation through rigorous methods of project evaluation. The other likely effects of the project on employment, health status, nutrition, food security, education, aspiration (subjective well-being), women’s empowerment and COVID-19 coping strategies are also captured. We focus on the beneficiaries of the SWAPNO 3rd cycle (2020-21) who just completed 2020-21 cycle for measuring the effects of the project. The baseline study of SWAPNO 3rd cycle (2020-21) beneficiary was conducted in February, 2020 on 884 households, including 442 project and 442 control households. We conducted the end-line survey in December 2021 on the same set of households. Due to attrition, however, we finally got 447 beneficiary households and 437 control households.