SAARC Development Fund (SDF) today said it would work closely with the businesses to promote regional economic cooperation mainly through co-financing of projects.
This was stated by the SDF CEO Sunil Motiwal and SAARC Chamber of of Commerce and Industry (SCCI) President Suraj Vaidya at a seminar at Kalutara in Sri Lanka.
"Both the organisations are committed towards the idea of promoting regional connectivity across the SAARC region by strengthening cooperation in the areas of transportation, infrastructure development and investment and trade through co-funding," a SDF statement.
Speaking at the seminar, Motiwal said that SDF was gearing up to play an important role to promote development among the member nations.
SDF, he said, provide funding under the three windows which are social, economic and infrastructure.
SCCI was established in 1985, to bring about improvement in the business environment, disseminate information about potential tradable goods and identify joint ventures in the SAARC region.
SDF was set up by the eight SAARC member states in April 2010 to accelerate economic growth, social progress and poverty alleviation in the region.
The fund is to serve as the umbrella financial institution for SAARC projects and programs which are in fulfillment of the objectives of the SAARC Charter.
