SDF to extend USD 10 million in MSME funding in Bhutan
SAARC Development Fund ( SDF) is established by the Heads of the eight SAARC Member States in April 2010 as an umbrella financial institution for SAARC projects and program in the SAARC region. The fund works for promoting the welfare of the people of SAARC region, improving their quality of life, and accelerating economic growth, social progress and poverty alleviation in South Asia.
Dr. Sunil Motiwal, Chief Executive Officer informed that SDF is launching its Micro, Small and Medium Enterprise ( MSME) funding scheme in Bhutan. The MSME funding scheme comes under the Economic Funding Window of SDF. The Fund has earmarked an amount of USD 10 million to be disbursed under the MSME funding scheme in Bhutan. The MSME loan shall be extended to MSME specialized banks in Bhutan.
Dr. Motiwal expressed confidence that the MSME funding scheme will boost job creation, raise income, and increase investments in human capital in Bhutan. MSME funding scheme shall be used to fund export- oriented clusters in Bhutan to promote economic integration and regional cooperation in the entire SAARC region. The MSME funding scheme can go a long way in creating access to finance to Micro, Small and Medium Enterprises in Bhutan.
Dr. Motiwal emphasized on the need to create an integrated, poverty- free, and prosperous South Asia region through project funding and collaboration. The Fund is working tirelessly to promote regional cooperation and integration in the SAARC region.