SAARC Development Fund allocates five million dollars for COVID-19 projects

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Kathmandu, April 7

The SAARC Development Fund has allotted USD 5 million for COVID-19 initiatives in SAARC member states underneath its Social Window to assist member international locations in responding to COVID-19 pandemic.

“The goal of the USD 5 million allocation is to supply fund assist to member states of their efforts and to guard the individuals of SAARC member states by mitigating monetary losses and extreme socio-economic affect of the COVID-19 pandemic,” stated CEO of SDF Sunil Motiwal in a press launch issued in the present day.

As the virus continues to unfold globally, the eight SAARC member states — Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka — have reported greater than eight,282 confirmed circumstances of Coronavirus until yesterday.

India has reported four,281 circumstances, Pakistan three,403, Afghanistan 299, Sri Lanka 178, Bangladesh 88, Maldives 19, Nepal 9 and Bhutan 5, in keeping with World Health Organisation.

This COVID-19 mission might be funded by SDF underneath its Social Window thematic areas. In retaining with SDF Charter Article four Section 2, Social Window shall primarily fund initiatives on poverty alleviation and social improvement specializing in training, well being, human useful resource improvement, assist to susceptible/ deprived phase of society, funding wants of communities, micro-enterprises and rural infrastructure improvement.

CEO Motiwal stated that each one eligible mission proposals submitted to SDF shall be reviewed and due diligence can be ensured.“The approval course of, mission implementation, fund disbursement, administration, monitoring and reporting shall be as per the present SDF-Board authorised coverage, and practices of SDF and Social Window,” he stated.

A model of this text seems in e-paper on April 08, 2020 of The Himalayan Times.

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