The SAARC Development Fund (SDF) has allocated US$ 5 million
for COVID-19 projects in the SAARC Member States under its Social Window to
support Member States in responding to the novel coronavirus (COVID-19)
pandemic.
"The objective of the US$ 5 million allocation is to provide
fund support to the Member States in their efforts and to protect the people of
the SAARC Member States by mitigating the financial losses and severe
socio-economic impact of the COVID-19 pandemic," said CEO of SDF Dr Sunil
Motiwal.
As the virus continues to spread globally, the eight SAARC
Member States - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal,
Pakistan and Sri Lanka - have reported 8,282 confirmed cases of 19/Coronavirus.
India has reported 4281 cases, Pakistan 3403, Afghanistan 299, Sri Lanka 178,
Bangladesh 88, Maldives 19, Nepal 9 and 5 in Bhutan. (source: WHO as of 6 April
2020).
This COVID-19 project will be funded by SDF under its Social
Window thematic areas. In keeping with SDF Charter Article 4 Section 2, Social
Window shall primarily fund projects on poverty alleviation, social development
focusing on education, health, human resource development, support to vulnerable/disadvantaged
segment of the society, funding needs of communities, micro-enterprises and
rural infrastructure development.
All eight SAARC Member States with project related to
COVID-19 response/ mitigation are eligible. The basic eligibility funding criteria are as follows:
CEO Dr Motiwal said that all eligible project proposals
submitted to SDF shall be reviewed and due diligence would be ensured. "The
approval process, project implementation, fund disbursement, management,
monitoring and reporting shall be as per the existing SDF-Board approved
policy, and practices of SDF and Social Window," he said. He added that SDF
will follow a fact-track system for appraisal and approval of projects.
The SAARC Development Fund, since its inception in April
2010 by the heads of the eight SAARC Member States, is mandated to build
regional integration and economic cooperation through project funding in all
the eight SAARC Member States through its Economic, Infrastructure and Social
Windows. The Secretariat is based in Thimphu Bhutan.
Currently, SDF is implementing 90 projects in all
SAARC Member States under its three funding windows with a total fund
commitment/allocation of USD 198.24 million.
48 projects (in 7 areas) have been successfully completed to benefit
thousands of people in SAARC Member States.
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