SAARC Development Fund Crossed $50 Million

Currently, the Self-Defense Force is implementing 90 projects in all member states of SAARC under its social, economic and infrastructure financing window.

SAARC Development Fund Crossed $50 Million

29 March 2021 Current Affairs:The SAARC Development Fund grants more than US$50 million for projects in the eight member states of SAARC.
Highlights:
♦ The SAARC Development Fund (SDF) was established in 2010 by the heads of the eight SAARC member states to promote the welfare of the people in the SAARC area, improve their quality of life, and promote economic growth, social progress and poverty alleviation in South America. SDF has 3 financing windows, namely social, economic and infrastructure windows.
♦ The focus of the social window is to provide funding for projects in poverty alleviation, health improvement and education. The economic window funds non-infrastructure projects like trade and industrial development, etc. Infrastructure Window Fund projects in the fields of energy, power, transportation, etc.
♦ Currently, the Self-Defense Force is implementing 90 projects in all member states of SAARC under its social, economic and infrastructure financing window.
♦ The South Asian Association for Regional Cooperation (SAARC) was established in 1985 and has 7 founding members. SAARC now consists of eight member states: Afghanistan (joined in 2007), Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The secretariat is located in Kathmandu, Nepal.
 

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