Finance Minister Gyanendra Bahadur Karki has been appointed as the vice chairman of the Investment Board of Nepal (IBN), a government body formed to promote investment in the country. He was appointed to the post by Prime Minister Sher Bahadur Deuba, who is also the chairman of the IBN, says a statement issued by the IBN.

Karki is known as close confidante of PM Deuba. The 60-year-old, who hails from the eastern district of Bhojpur, has previously served as the water resources minister in the government led by late Girija Prasad Koirala in 2006.