Aug 20, 2015- South Asian Finance Ministers on Thursday agreed on allowing the Saarc Development Fund (SDF) to invest in infrastructure projects in a single country in an attempt to activate the infrastructure and economic windows under the SDF.
According to Saarc Charter, projects located in one or more Saarc member countries, of significant economic interest for three or more Saarc member states, are eligible for funding from the SDF.
“As it is difficult to find infrastructure projects that is operated in three countries or benefits three or more countries, Saarc Finance Ministers agreed on adopting flexibility on it,” said Madhu Marasini, chief of international economic cooperation coordination division at the Finance Ministry.
During the 18th Saarc summit held in Kathmandu last year, Saarc leaders had agreed to open infrastructure and economic windows of the SDF while its social window has remained operational currently.
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