Nepal has formalized the process for appointing the Chief Executive Officer of the Alternative Development Finance Fund under the Alternative Development Finance Mobilization Act, 2083. A recommendation committee led by the Chairperson of the Public Service Commission will oversee the competitive process and recommend the three highest-scoring candidates to the Government of Nepal in order of merit. Applicants must be between 35 and 65 years old, hold at least a master’s degree in specified disciplines, and have a minimum of 10 years of managerial experience in areas such as infrastructure, project development, public-private partnerships, investment promotion, banking, finance or development administration.
The procedure establishes a 100-point evaluation system. Academic qualifications carry 5 marks, managerial experience 15, experience in alternative finance mobilization and project analysis 5, and the candidate’s business strategy and action plan carries the largest single share at 30 marks. Another 25 marks are allocated to the presentation and strategic discussion, while the final interview accounts for 20 marks. Candidates may be shortlisted to a maximum of 10 before proceeding to presentations and interviews.
Applicants must prepare a business strategy and action plan of no more than 5,000 words, covering Nepal’s infrastructure investment environment, international trends in alternative development finance, the strengths and implementation challenges of the new law, the fund’s strategic direction, governance and organizational capacity, and a four-year business plan. The presentation and strategic discussion will last 40 minutes, divided equally between presentation and discussion. The procedure also allows the committee to engage subject experts during evaluation.
The rules require applications to be invited publicly with a 14-day deadline. If fewer than five applications are received, the committee must issue another call with a seven-day deadline, after which the process can proceed regardless of the number received. Applications containing false or incorrect documents may be cancelled at any stage, while all evaluation-related records must remain confidential. Quite a lot of machinery for one CEO, but when the job involves channeling alternative capital into national development, improvisation would be the more expensive option.
