Tuesday, Jan 22 2019 | Time 18:27 Hrs(IST)
image
  • CCS approves grant of ECHS to Assam Rifles pensioners and dependents
  • NGO organizes sprint race in Aurangabad to demand Minority Reservation
  • French authorities confirm Emiliano Sala on missing plane in E Channel
  • Putin-Abe to address peace treaty issue at talks in Moscow
  • India to host contestants from 50 countries at 5th International Young Chef Olympiad
  • Macron, Merkel sign treaty on Franco-German Cooperation, Integration
  • India, Mauritius explore ways to cooperate in Africa and enhance ties on Blue Economy
  • Germany, France plan to contribute to creation of European Army by new treaty : Merkel
  • Pro Wrestling League 2019: Clash of titans as Bajrang takes on Aliyev
  • Authorities issue fresh avalanche warning in Kashmir, Ladakh
  • Oppn parties in UP demands ballot paper voting during LS polls after London press conference
  • Projects worth Rs 1,11,000 lakh crores to be initiated before March end: CM Rupani
  • CM tables Budget for the year 2019-20 worth Rs 85,429 crore
  • 'Opportunities have been missed': Abdullah Abdullah
  • As Amit Shah kicks off Bengal campaign: 'Is saffron party mad', asks TMC
Business Economy Share

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
More News
Reliance Nippon Life Asset Management Q3 net down by 14 80 pc

Reliance Nippon Life Asset Management Q3 net down by 14 80 pc

22 Jan 2019 | 6:08 PM

Mumbai, Jan 22 (UNI) Reliance Nippon Life Asset Management has reported a of 14.80 per cent in its net profit for the quarter ended December 31, 2018 at Rs 109.74 crore as against Rs 128.81 crore for the period ended December 31, 2017.

 Sharesee more..
Asian Paints Ltd Q3 consolidated net rises by 14 09 pc

Asian Paints Ltd Q3 consolidated net rises by 14 09 pc

22 Jan 2019 | 6:06 PM

Mumbai, Jan 22 (UNI) Paint Major, Asian Paints has reported a rise of 14.09 percent in its net profit for the quarter ended December 31, 2018 at Rs.647.15 crores as against Rs.567.21 crores for the period ended December 31, 2017.

 Sharesee more..
Rupee down by 16 paise against USD

Rupee down by 16 paise against USD

22 Jan 2019 | 6:05 PM

Mumbai, Jan 22 (UNI) The Rupee remained weak for the third straight session on Tuesday as it tumbled down by 16 paise to 71.43 against the US Dollar on brisk demand for US Dollars by bankers and importers, dealers at Forex Market said.

 Sharesee more..
Havells India Q3 net profit rises by 0 67 pc to Rs 195 67 cr

Havells India Q3 net profit rises by 0 67 pc to Rs 195 67 cr

22 Jan 2019 | 6:04 PM

Mumbai, Jan 22(UNI) Havells India has reported a marginal increase of 0.67 per cent in its net profit for the quarter ended December 31, 2018 at Rs 195.67 crores as against Rs.194.36 crore for the period ended December 31, 2017.

 Sharesee more..
Honda motorcycle conducts road safety for kids

Honda motorcycle conducts road safety for kids

22 Jan 2019 | 6:03 PM

Kolkata, Jan 22 (UNI) Solidifying the culture of safe riding in the country, Honda Motorcycle and Scooter India Pvt. Ltd. conducted the National Road Safety Awareness campaign for kids in Kolkata.

 Sharesee more..
image