The Ministry of Finance, Nepal’s finance ministry, will open public applications for the Chief Executive Officer (CEO) of the Alternative Development Finance Fund (ADFF) on Friday, October 2, 2026. This move aims to formalize leadership for the fund, which is designed to mobilize private sector investment for infrastructure projects.
Applicants for the CEO position must be between 35 and 65 years old. Educational qualifications require a minimum of a master’s degree in fields such as economics, commerce, development administration, or engineering. Candidates also need at least 10 years of managerial experience in sectors including infrastructure, banking and finance, industrial management, or international financial institutions.
The ADFF was established to address a significant infrastructure investment gap in Nepal, estimated at over Rs 500 billion annually. It aims to enable investment in large, risky projects that traditional banking systems often find challenging to finance. Currently, Joint Secretary Kavita Regmi of the Ministry of Finance is serving as the CEO of the fund. The fund’s board of directors is chaired by the Secretary of the Ministry of Finance.
Fund Structure and Shareholding
The Alternative Development Finance Fund has an authorized capital of Rs 100 billion and a paid-up capital of Rs 25 billion. The Nepal government holds a majority share of 51 percent in the fund. Other key stakeholders include the Employees Provident Fund, Citizen Investment Trust, and Social Security Fund, which collectively hold 25 percent of the shares. The remaining 24 percent is held by life insurance, non-life insurance, and reinsurance companies.
Background and Legislative Journey
The government introduced the concept of an alternative finance fund to attract private sector investment in critical infrastructure projects. Legislation related to alternative finance mobilization was enacted in Ashar 2083 (BS). The initiative began when then-Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel made the first decision to create a roadmap and legislation for alternative finance mobilization on Ashar 31, 2081 (BS).
The ‘Bill to Make Arrangements Regarding Alternative Development Finance Mobilization, 2081’ was registered in the House of Representatives on Baisakh 5, 2082 (BS), and subsequently presented by then-Finance Minister Paudel on Baisakh 12, 2082 (BS).
Next Steps and Unresolved Issues
While applications for the CEO position open on Friday, the Ministry of Finance has not yet specified the final deadline for submissions. Further details regarding the selection process and timeline after application submission are also currently unavailable. Additionally, the name of the current Secretary of the Ministry of Finance, who chairs the fund’s board, has not been explicitly mentioned in available information.
An earlier disagreement within the Finance Committee regarding a provision in Section 19 of the bill also remains unresolved. This provision allowed foreign citizens to be appointed as CEO for the first time but excluded non-resident Nepalis. The committee had concluded that this issue needed further refinement, but its current status is not known.
