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The programme intends to fund around 80 enterprises across the 8 SAARC member states annually.” said SDF CEO Sunil Motiwal.

SAARC fund to soon launch social enterprise programme in India, 7 other member nations

The programme intends to fund around 80 enterprises across the 8 SAARC member states annually.” said SDF CEO Sunil Motiwal.

Thimpu-based SAARC Development Fund will soon be launching a social enterprise development programme (SEDP) to fund 80 entities annually across the 8-member states including India, said SDF CEO Sunil Motiwal. SDF was established by the Heads of the eight SAARC member states in April 2010 and its Governing Council comprises finance ministers of these eight countries.

SDF is in the process of launching the SEDP as part of its social window, Motiwal said in an interview to PTI. “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.” he said.

SDF has already committed USD 73.74 million for social window projects as of date out of which it has disbursed USD 47 million to the member states for social window projects. “Recently we have in-principle approved two energy infrastructure projects in the region with a loan commitment of USD 30 million under our infrastructure window. Other potential regional connectivity projects are under our active consideration to co-finance in SAARC member states,” Motiwal said.

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. Stating that MSMEs are important constituent of any economy, he said the SDF will soon be coming out with a programme to provide line of credit to the sector across the member states.

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About Me

Dr. Sunil Motiwal is the Chief Executive Officer (CEO) of the SAARC Development Fund (SDF).

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Quote

“The SAARC region comprises 3% of the world’s area, about 23% of the world population and about 3.3% of the global economy and is considered as one of the fastest growing region in the world. The region is blessed with a considerable young population and abundance of natural resources”

“The Fund is working tirelessly to promote regional cooperation and integration and envisages acting as a catalyst for infrastructure funding in the region by forming consortium of funding agencies and co-financing of such projects”

“If you look at America and Europe, it (trade, travel and tourism) is intra-regional. But if you look at South Asia, it is least integrated region in the world. If you look at intra-regional trade, there is virtually no trade taking place in the SAARC region. There is no intra-regional travel and tourism as such multiplier impact of trade within the region has not benefited the SAARC countries”

“SDF may explore projects that facilitate intra SAARC investment. This will immensely help in economically integrating the South Asian Region will also facilitate development of supply chain in line with the competitive advantages of South Asian Nation, entail development of secondary and tertiary sector in key industries and also facilitate development of Micro Small and Medium Enterprises (MSME)”

“SDF to work closely with various Multilateral Development Banks, International Financial Institutions, Regional Financial Institutions, Scheduled Commercial Banks, Infrastructure Funding Agencies to form consortium of funding agencies in order to co-finance large infrastructure projects in SAARC Member States.

“SDF to continue focus on co-finance Regional connectivity projects in Transport and Energy sectors in the region along with other Multilateral Development Banks”

“Per the policy guidelines of SDF, loans can be extended to both the private and public sectors in SAARC Member States. SDF to extend more support to the private sector under the MSME sector in SMSs. Focus to be given to innovative and tech based MSME private clusters in SAARC Member States in due course of time”

“We plan to convert SDF into regional bank in the next 2 years”

“SDF focusing on Social, Economic and Infrastructure Areas”

“SDF Regional Cooperation unleasing opportunities”

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