INSUBCONTINENT EXCLUSIVE:
Kathmandu, April 7
The SAARC Development Fund has allocated USD five million for COVID-19 projects in SAARC member states under its Social
Window to support member countries in responding to COVID-19 pandemic.
&The objective of the USD 5 million allocation is to provide fund
support to member states in their efforts and to protect the people of SAARC member states by mitigating financial losses and severe
socio-economic impact of the COVID-19 pandemic,& said CEO of SDF Sunil Motiwal in a press release issued today.
As the virus continues to
spread globally, the eight SAARC member states — Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka — have
reported more than 8,282 confirmed cases of Coronavirus till yesterday.
India has reported 4,281 cases, Pakistan 3,403, Afghanistan 299, Sri
Lanka 178, Bangladesh 88, Maldives 19, Nepal 9 and Bhutan 5, according to World Health Organisation.
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 and social development
focusing on education, health, human resource development, support to vulnerable/ disadvantaged segment of society, funding needs of
communities, micro-enterprises and rural infrastructure development.
CEO 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.
A version
of this article appears in e-paper on April 08, 2020 of The Himalayan Times.
The post SAARC Development Fund allocates five million dollars
for COVID-19 projects appeared first on The Himalayan Times.
