SDF Meet in Colombo from Aug 23

Enhanced economic ties eyed

Published : 21 Aug 2019 08:38 PM | Updated : 05 Sep 2020 01:02 PM

SAARC Development Fund (SDF) will hold its 31st board meeting in Colombo, Sri Lanka on August 23-24 aims at taking decisions on key issues to further promote regional integration and economic cooperation among its 8-member states.

The information came up when CEO of SDF Dr Sunil Motiwal called on Sri

Lankan Finance Minister Managala Samaraweera at latter’s office, a press release said, reports BSS.

As SDF governing council member, the minister expressed his continued support to SDF’s role in enhancing regional connectivity and economic cooperation, the release said.

The SAARC Development Fund, since its inception in April 2010 by heads of the eight SAARC Member States, is mandated to build regional integration and economic cooperation through project funding in all the SAARC member states –

Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat is based in Thimphu, Bhutan.

SDF’s governance structure includes its governing council comprising of the finance ministers of the eight SAARC member states, and its board of directors comprised of representatives from the ministry of finance of each member state.

During the time, SDF CEO Motiwal also met with director general, external resources division, ministry of finance, Sri Lanka P Rathnayake to discuss on SAARC development fund’s ongoing partnership and future action plan.

He also met with officials from the ministry of finance including director general, Fiscal Policy and SDF Board Director K A Vimalenthirarajah.