The Investment Board is entrusted to promote economic development of the country by creating an investment-friendly environment by means of mobilizing and managing public-private partnership, cooperative and domestic and foreign private investments, for making the process of industrialization orderly and rapid, for the development of infrastructure and other sectors to create employment opportunities, and to offer meaningful contribution to poverty alleviation. There was a strong need for an Investment Board in Nepal because of highly under-developed infrastructure sector, inadequate domestic capital to finance infrastructure projects, uncoordinated past efforts to attract FDI (Foreign Direct Investment) and lack of one window service for potential investors to navigate inside Nepal. The Investment Board Nepal was thus envisioned to help ease these obstacles by functioning as a central agency for investment promotion and facilitation while continually working towards improving the country's investment climate. The IBN has been given the authority to fulfill its mandate by empowering itself to create an investment friendly climate, mobilize and manage PPPs, cooperatives, domestic and foreign investments, and develop infrastructure assets. In addition, the office of the IBN can select priority areas for investment, create a framework for selecting and evaluating projects, provide incentives to encourage investments, and engage in investment promotion activities. The IBN is headed by the Prime Minister, while the office of the IBN is headed by the CEO who is also member secretary of the IBN.