SAARC Development Fund to hold meeting in Colombo

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

The information came up when CEO of SDF Sunil Motiwal called on Sri Lankan finance minister Managala Samaraweera at latter’s office, a press release said here today.

As SDF governing council member, the Sri Lankan 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.