ADB & SDF to col­lab­o­rate for the de­vel­op­ment of the SAARC re­gion

Bhutan Times - - Home - Sonam

Asian De­vel­op­ment Bank (ADB) and SAARC De­vel­op­ment Fund (SDF) have signed an MoU and agreed to col­lab­o­rate for the de­vel­op­ment of the SAARC re­gion through co-fi­nanc­ing of projects and pro­grams fo­cus­ing on re­gional con­nec­tiv­ity/inte- gra­tion and eco­nomic co­op­er­a­tion among the SAARC Mem­ber States, make ef­forts to mo­bi­lize new funds in jointly fi­nances projects/ pro­grams and ac­tiv­i­ties and to pro­vide tech­ni­cal as­sis­tance and in­vest­ments for co-fi­nanc­ing on the three win­dows of SDF, Mi­cro Small Medium En­ter­prises (MSME) Pro­gram, So­cial En­ter­prise De­vel­op­ment Pro­gram and any other new ar­eas which can be cov­ered un­der the MoU. The MoU was signed last Thurs­day.

Speak­ing on the oc­ca­sion the chief ex­ec­u­tive of­fi­cer of SDF, Dr. Moti­wal re­it­er­ated SDF’s com­mit­ment to the idea of pro­mot­ing re­gional con­nec­tiv­ity across the SAARC re­gion by strength­en­ing co­op­er­a­tion in the ar­eas of trans­porta­tion, in­fras­truc­ture de­vel­op­ment and in­vest­ment & trade by col­lab­o­rat­ing with pres­ti­gious or­ga­ni­za­tions such as ADB. Eco­nomic cor­ri­dor con­nect­ing the SAARC Mem­ber States economies can be es­tab­lished in col­lab­o­ra­tion with de­vel­op­ment part­ners such as ADB.

Ar­eas such as trans­port, road con­nec­tiv­ity, ICT, in­dus­trial de­vel­op­ment, trade & in­vest­ment and en­ergy will be the fo­cus ar­eas of co-fund­ing of projects in the SAARC Mem­ber States.

ADB, based in Manila, is ded­i­cated to re­duc­ing poverty in Asia and the Pa­cific through in­clu­sive eco­nomic growth, en­vi­ron­men­tally sus­tain­able growth, and re­gional in­te­gra­tion. It is owned by 67 mem­bers—48 from the re­gion. In 2015, ADB as­sis­tance to­taled $27.2 bil­lion, in­clud­ing co­fi­nanc­ing of $10.7 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.

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