Asian In­fra­struc­ture In­vest­ment Bank & SAARC Devel­op­ment Fund have agreed to co-finance in­fra­struc­ture projects in the SAARC Re­gion

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March 29, 2016Bei­jing: Dr. Su­nil Moti­wal , Chief Ex­ec­u­tive Of­fi­cer, SAARC Devel­op­ment Fund has con­firmed that Asian In­fra­struc­ture In­vest­ment Bank (AIIB) has agreed to co-finance projects and pro­grams along with SDF es­pe­cially in the ar­eas of ru­ral en­ergy , trans­port and ICT con­nec­tiv­ity projects in terms of up -gra­da­tion of in­fra­struc­ture and to en­hance re­gional con­nec­tiv­ity in SAARC Mem­ber States. AIIB may also con­sider SDF as their cus­to­dian of funds for the SAARC re­gion.

Dr. Moti­wal met Mr. Liqun Jin, Pres­i­dent, AIIB and se­nior of­fi­cials of AIIB on March 29, 2016 at AIIB of­fice in Bei­jing, China in or­der to dis­cuss for­mu­la­tion of strate­gies and ac­tion plan for the strate­gic growth of SAARC Mem­ber States.

The Asian In­fra­struc­ture In­vest­ment Bank (AIIB) is an in­ter­na­tional fi­nan­cial in­sti­tu­tion that aims to sup­port the build­ing of in­fra­struc­ture in the Asia-Pa­cific re­gion. The bank has 31 mem­ber states (all “Found­ing Mem­bers”) and was pro­posed as an ini­tia­tive by the gov­ern­ment of China. The cap­i­tal of the bank is $100 bil­lion.

SDF was es­tab­lished by the eight SAARC Mem­ber States in April 2010 to pro­mote the wel­fare of the peo­ple of SAARC re­gion, im­prove their qual­ity of life, and to ac­cel­er­ate eco­nomic growth, so­cial progress and poverty al­le­vi­a­tion in the re­gion. The Fund is to serve as the um­brella fi­nan­cial in­sti­tu­tion for SAARC projects and pro­grams which are in ful­fill­ment of the ob­jec­tives of the SAARC Charter. SDF has three fund­ing win­dows viz. So­cial, Eco­nomic and In­fra­struc­ture.

Dr. Su­nil Moti­wal, CEO, SDF with Mr. Liqun Jin, Pres­i­dent of AIIB and other se­nior of­fi­cials of AIIB

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