SAARC development fund meet in colobmbo tomorrow

FE Team | Published: August 22, 2019 15:25:37

The 31st board meeting of SAARC Development Fund (SDF) will begin in Colombo tomorrow (Friday), reports BSS.
The meeting aims at taking decisions on key issues to further promote regional integration and economic cooperation among the member countries.
The information came up when Chief Executive Officer (CEO) of SDF Dr Sunil Motiwal called on Sri Lankan Finance Minister Managala Samaraweera at the latter's office, a press release said in Dhaka on Wednesday.
As SDF governing council member, Sunil Motiwal expressed his continued support to SDF's role in enhancing regional connectivity and economic cooperation, the release said.
The meeting will end in the Sri Lankan capital on Saturday.
The South Asian Association for Regional Cooperation (SAARC) comprises eight member states: Afghanistan, Bhutan, Bangladesh, India, Maldives, Pakistan, Nepal and Sri Lanka.
The SAARC Development Fund, since its inception in April 2010 by heads of the eight SAARC member countries, is mandated to build regional integration and economic cooperation through project funding in all the SAARC member states.
The Secretariat is based in Thimphu, the capital of Bhutan.
SDF's governance structure includes its governing council consisting of the finance ministers of the eight SAARC member countries, and its board of directors comprising representatives from the ministry of finance of each member state.
During the time, SDF Chief Executive Officer (CEO) Motiwal also met with director general of Sri Lankan finance ministry's external resources division P Rathnayake to discuss SAARC development fund's ongoing partnership and its future action plan.
He also met with officials from the Lankan finance ministry, including director general, fiscal policy and SDF board director K A Vimalenthirarajah.