The first board of Directors Meeting of Millennium Challenge Account Nepal Development Board (MCA-Nepal) held on Friday, decided to initiate the selection process for the position of Executive Director.

The meeting also formed a sub-committee of the Board of Directors to recommend names for the position of Executive Director.

The Cabinet in April had passed an order facilitating the establishment of an entity to oversee the implementation of US government-funded projects under the Millennium Challenge Corporation (MCC).

The  Millennium Challenge Account (MCA) Nepal is tasked with executing schemes via a $500 million grant provided by the Millennium Challenge Corporation (MCC), an independent US government agency working to reduce global poverty through economic development. The board meeting also endorsed the selection of Prateek Pradhan and his alternate Surendra Kumar Mahato as board members representing the civil society. Likewise, Kumar Pandey and his alternate Gyanendra Lal Pradhan were also endorsed as board members representing the private sector.