NewsLanka | COLOMBO | Thu, 22 Aug 2019 | SAARC Development Fund will hold its 31st board meeting in Colombo, Sri Lanka on August 23-24.The CEO of SAARC Development Fund Dr Sunil Motiwal called on the Sri Lankan Finance Minister of Mangala Samaraweera in his office Tuesday for discussions prior to the meeting. As SDF Governing Council member, the Minister expressed his continued support to SDF’s role in enhancing regional connectivity and economic cooperation, Dr. Motiwal said in a statement.
The SAARC Development Fund meeting is aimed at taking decisions on key issues to further promote regional integration and economic cooperation among its 8-member states. The SAARC Development Fund, since its inception in April 2010 by heads of the eight SAARC Member States, is mandated to build regional integration and economic cooperation through project funding in all the SAARC member states – Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat is based in Thimphu, Bhutan.
SDF’s governance structure includes its governing council comprising of the finance ministers of the eight SAARC member states, and its board of directors comprised of representatives from the ministry of finance of each member state. During the time, SDF CEO Motiwal also met with director general, external resources division, Ministry of Finance, Sri Lanka P Ratnayake to discuss on SAARC development fund’s ongoing partnership and future action plan, BSS reported. He also met with officials from the ministry of finance including director general, Fiscal Policy and SDF Board Director K A Vimalenthirarajah.