SAARC Development Fund, headquartered in the Bhutanese capital, Thimpu, soon will launch a social enterprise development programme (SEDP) to fund 80 entities annually across eight-member states, including India.
Countries comprising the SAARC are:
- India
- Nepal
- Afghanistan
- Bangladesh
- Bhutan
- Maldives
- Sri Lanka
- Pakistan
Facts to know about the SDF:
- SDF is in the process of launching the SEDP as part of its social window.
- The programme will be implemented in all the SAARC member states with the objective of identifying and building social enterprises by using a mix of grants and concessional returnable capital.
- The programme intends to fund around 80 enterprises across the 8 SAARC member states annually.
- SDF has already committed $73.74 million for social window projects as of date out of which it has disbursed $47 million to the member states.
- Two energy infrastructure projects in the region have received in-principle approval with a loan commitment of $30 million under the SDF's infrastructure window.
- SDF is currently implementing 12 regional projects with more than 70 implementing and lead implementing agencies covering all the member countries under the social window funding.
- Acknowledging the important role of MSMEs in an economy, the SDF is planning to come out with a programme to provide line of credit to the sector across the member states.
- The SDF would create access to financial services which can in-turn boost job creation, raise income, reduce vulnerability and increase investments in human capital in SAARC countries.
