Friday, Mar 24 2023 | Time 12:31 Hrs(IST)
image
Business EconomyPosted at: Jul 1 2018 8:50AM


SAARC Development Fund to organise partnership conclave on July 2

New Delhi, July 1 (UNI) To augment its financial resources, the SAARC Development Fund (SDF) has organised a two day-event here beginning July 2, wherein it will engage with top multilateral institutions including the World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure and Investment Bank (AIIB).
SDF, which has just given in-principle approval for two infrastructure projects with a cumulative funding of USD 30 million aims to strengthen its financial resources for more such key infrastructure, economic and social projects in SAARC Member States through this partnership conclave.
The conclave will be inaugurated by NITI Aayog CEO Amitabh Kant.
SAARC Member States commitment to the development of the SAARC region is clearly visible by the participation of its top officials at the partnership conclave for soliciting the maximum of support from the multilateral funding organisations for the region.

''Considering a huge funding requirement of the region; it is important for us to raise finances through different mechanisms for lending to projects which are vital for building infrastructure and poverty alleviation through faster economic development in the SAARC region,'' SDF Chief Executive Officer Sunil Motiwal said.
SDF is currently implementing 12 regional projects with more than 70 implementing and lead implementing agencies covering all the eight Member States under the Social Window funding.
''We have already committed USD 73.74 million for social window projects as of the date of which USD 46.26 million has already been disbursed to the Member States. Recently, we have in-principle approved two energy infrastructure projects in the region with a loan commitment of USD 30 million under our Infrastructure Window. Other potential regional connectivity projects are under our active consideration to co-finance in SAARC Member States,'' he said.
SDF has already signed MoUs with Asian Development Bank, World Bank, UNICEF, UNDP, Small Industries Development Bank of India (SIDBI), South Asian University, SAARC Arbitration Council and SAARC Chamber of Commerce & Industry. All these MoUs capture the broad framework of collaboration and partnership for the development of the region.
The SDF, established by eight SAARC Member States in April, 2010, is the umbrella financial institution of SAARC projects and programs. SDF also works closely with most of the Multilateral Development Banks and International Financial Institutions within and outside the region.
UNI JPG SV 0846
Please log in to get detailed story.
Tags: #SAARC Development Fund to organise partnership conclave on July 2
More News

Zydus receives final approval for Doxepin Hydrochloride Capsules USP, 150 mg from USFDA

24 Mar 2023 | 12:21 PM

Mumbai, Mar 24 (UNI) Zydus Lifesciences on Friday said that it has received final approval for Doxepin Hydrochloride Capsules USP, 150 mg from the United States Food and Drug Administration (USFDA).

see more..
Rupee up 2 paise against USD

Rupee up 2 paise against USD

24 Mar 2023 | 10:24 AM

Mumbai, Mar 24 (UNI) The Rupee on Friday rose marginally by two paise at 82.24 in the opening trade against the US Dollar on selling of US Dollar by bankers and exporters, dealers at Foreign Exchange said.

see more..
Sensex down 93 pts

Sensex down 93 pts

24 Mar 2023 | 10:23 AM

Mumbai, Mar 24 (UNI) The BSE Sensex dropped 93 points at 57,831.33 in opening trade as selling was seen in Commodities, Energy and FMCG stocks.

see more..
Paytm launches ‘Cancel Protect’

Paytm launches ‘Cancel Protect’

23 Mar 2023 | 10:36 PM

New Delhi, Mar 23 (UNI) India’s leading payments and financial services company One97 Communications Limited (OCL) that owns the brand Paytm, on Thursday announced that it has empowered Paytm Super App users to avail free cancellation on train ticket bookings with ‘Cancel Protect’.

see more..

Hop Electric Mobility inaugurates Hop Experience Centre

23 Mar 2023 | 6:54 PM

Mumbai, Mar 23 (UNI) Hop Electric has rolled out its flagship electric motorcycle Hop Oxo in Mumbai with inauguration of Hop Experience Centre, ‘Star E Wheels’.

see more..
image