SAARC Development Fund has undertaken a number of initiatives for strategic growth of South Asia region, such as forging relationships with strategic partners for taking up joint initiatives and also co-funding of projects. SDF is also working towards strengthening and positioning itself as a catalyst funding organization for the strategic growth of the SAARC Region.
We are committed towards promoting the welfare of the people of SAARC Region, improving their quality of life, accelerating economic growth and social progress, and alleviating poverty through ﬁnancing and implementation of development projects in all the SAARC Member States.
Currently, SDF is implementing 84 projects (13 areas) under the Social window with fund commitment of USD 74.49 million and 5 projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with fund allocation of USD 50 million in SAARC Member States. We activated the Economic Window by way of disbursing USD 13 million to Drukair Corporation, Bhutan for purchasing ATR 42-600 aircraft.
Partnership is key for the South Asia region to realize its full economic potential. Hence, SDF has also developed a strong relationship with various Multinational Development Banks, International Financial Institutions, Regional Banks, MSME Banks, SME Banks, Chamber of Commerce and Industries, Trade and Investment Promotion Agencies. We are therefore looking forward to co-financing economic and infrastructure projects and mobilizing funds with these partners for project funding.
The increase in our presence in South Asia also reflects our strong commitment. SDF is in the process of strengthening its credit portfolio and its lending business.