SAARC Development Fund meeting concludes

Kathmandu, October 4

SAARC member states (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka) met in Thimphu, Bhutan from October 4 to 6 for the Counterpart Agencies Meeting of SAARC Development Fund.

The meeting reviewed the status of ongoing SDF-funded Social Window projects in the SAARC member states, challenges faced by SDF in implementation of projects in the member states, importance and role of the counterpart agencies of SDF and other important matters pertaining to SDF, read a press release issued by the Thimpu-base SDF.

Counterpart Agencies are the focal points nominated by the finance ministries in order to coordinate and facilitate on behalf of SDF in the respective member states.

During the meeting Sunil Motiwal, CEO of SDF said, “Counterpart Agencies have a very vital role in effective implementation of projects in the SAARC member states as they act as coordinator/facilitator on behalf of SDF as and when requested by SDF. Their role as Counterpart Agencies will certainly benefit SDF even more in times to come. SDF along with its counterpart agencies is fully committed to bring synergies in the member states through project funding.”

SDF is the umbrella financial institution for projects and programmes implemented in the SAARC member states. Its focus is to strengthen regional integration in the SAARC region through project funding and collaboration.