Wednesday, Apr 17 2024 | Time 20:25 Hrs(IST)
Business Economy

Cross-border e-commerce platform to fund SAARC region start- ups

New Delhi, July 9 (UNI) SAARC Development Fund, the cross border project umbrella financing institution for SAARC Member States, is in the process of developing an e-commerce platform for enabling seamless trade of goods and services across SAARC Member States even as it would fund ‘Start-Ups’ , giving a fillip to budding entrepreneurs in the region, said SDF CEO Dr Sunil Motiwal.
“A proposal to develop a cross border e-commerce platform along with a SAARC money card for the common people across the region is under finalisation,” Dr Motiwal said in a statement , summarising the outcome of the recent two-day SAARC Development Fund Partnership Conclave, an event of strategic and regional importance for growth of SAARC region with the apex Multilateral Development Banks like the World Bank (WB), Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) in New Delhi.
The business meeting with the multilateral organisations and financial institutions was meant to rope them in enhancing the credit portfolio of the SDF which has already disbursed USD 47 million in 12 cross border projects and granted in- principle approvals for two energy cross border projects with commitment of USD 30 Million in the region. Dr Motiwal also confirmed that SDF is currently considering bankable projects in the areas of infrastructure, economic and MSME segments of markets in SAARC region.

Dr Motiwal said, the initiatives like e-commerce platform along with funding the ‘Start-Ups’ found an instant support among the international funding organisations. “The Start-Up programme would include entrepreneurs well in areas like renewable energy, agriculture,health and micro-enterprises, especially in MSME segments''.
Exhorting young entrepreneurs from all the eight nations in the SAARC to take advantage, he said, “You can come up with a proposal which will be funded by the SDF which has a capital base of USD 500 million”.
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