SDF to ex­tend USD 10 mil­lion in MSME fund­ing in Bhutan

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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.

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