The SAARC Development Fund (SDF), on Sunday, celebrated the 35th SAARC Charter Day.
Speaking at the occasion, CEO of SDF Dr Sunil Motiwal stated that the SAARC Development Fund, as an umbrella financial institution for SAARC projects and programmes, is fully committed to promote "Regional Integration and Economic Cooperation among the SAARC member states through project funding and collaboration".
He declared that SAARC Development Fund continues to undertake a number of initiatives for the strategic growth of the region, such as forging relationships with partners for taking up joint initiatives and co-funding of projects.
Currently, SDF is implementing 90 projects in all SAARC Member States under its Social, Economic and Infrastructure funding windows with a total fund commitment/allocation of USD 198.24 million. SDF revealed that 48 projects, in seven areas, have been successfully completed to benefit thousands of people in SAARC Member States.
High-ranking government officials, resident Ambassadors, heads of international organizations, civil society representatives and implementing agencies of SDF funded projects, and others attended the 35th Charter Day activities.
SAARC Development Fund was inaugurated in April 2010, by the Heads of States of SAARC member countries during the 16th SAARC Summit held in Thimphu, Bhutan.
According to the organisation, the SAARC Charter recognizes the region’s shared history, common destiny, the determination of the SAARC Member States, to foster mutual understanding, friendship and cooperation for peace and prosperity to accelerate the process of social, economic and cultural development in the region.