SAARC leaders to inaugurate SDF with $300m
Friday, 16 April 2010
Permanent Secretariat of SAARC Development Fund (SDF) with initial capital of US$ 300 million will be inaugurated by the South Asian leaders during the 17th SAARC summit in Thimpu on April 28-29, reports UNB.
The SDF will serve as umbrella financial institution for all SAARC projects and address administrative, financial and operational difficulties arising from the proliferation of financing mechanisms under the SAARC.
The SAARC leaders, who meet on April 28-29, will endorse three agreements -- Convention on Cooperation on Environment, agreement on Trade in Services and agreement on Natural Disaster Rapid Response Mechanism.
"SAARC summit is ready. All preparations are now in place. We're waiting to receive the SAARC leaders," said Bhutanese Ambassador in Dhaka Dasho Bap Kesang whose country is hosting the summit for the first time.
The SDF will serve as umbrella financial institution for all SAARC projects and address administrative, financial and operational difficulties arising from the proliferation of financing mechanisms under the SAARC.
The SAARC leaders, who meet on April 28-29, will endorse three agreements -- Convention on Cooperation on Environment, agreement on Trade in Services and agreement on Natural Disaster Rapid Response Mechanism.
"SAARC summit is ready. All preparations are now in place. We're waiting to receive the SAARC leaders," said Bhutanese Ambassador in Dhaka Dasho Bap Kesang whose country is hosting the summit for the first time.