To support member states in responding to the COVID-19 pandemic, the SAARC Development Fund (SDF) has allocated US$ 5 million for COVID-19 projects in the SAARC Member States.
The COVID-19 project shall be funded by SDF under its social window thematic areas, which primarily funds projects on poverty alleviation, social development, funding needs of communities, micro-enterprises and rural infrastructure development.
“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 through a press release shared with the media today.
The CEO Dr Motiwal said that all eligible project proposals submitted to SDF shall be reviewed and due diligence would be ensured. He added that SDF would follow a fact-track system for appraisal and approval of projects.
As per WHO reports, the eight SAARC Member States – Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka – have reported 8,282 confirmed cases of coronavirus as of April 6. India has reported 4281 cases, Pakistan 3403, Afghanistan 299, Sri Lanka 178, Bangladesh 88, Maldives 19, Nepal 9 and 5 in Bhutan.
