The United Nations Development Programme in Asia and the Pacific today announced a partnership with the SAARC Development Fund to collaborate on support to eight South Asian countries in attaining the newly adopted Sustainable Development Agenda 2030..
The partnership, which envisions cooperation on areas such as energy access, micro-credit, women’s empowerment and climate change, was formalized through the signing of a Memorandum of Understanding between the two parties in Kuala Lumpur on Monday.
Mr. Haoliang Xu, Assistant Secretary General and Regional Director of UNDP’s Regional Bureau for Asia and Pacific, signed on behalf of the programme. Dr. Sunil Motiwal, Chief Executive Officer of the SDF represented the Fund.
“I am delighted to announce this strategic partnership with the SDF. We will together take advantage of this tremendous opportunity to create even more economic growth in the region, while fostering social good and sustainable development for people in SAARC countries,” said Haoliang Xu.
Since it’s inception in 2005, the SDF has served as an ‘umbrella financial mechanism’ for all projects and programmes undertaken by the South Asian Association for Regional Cooperation – an economic and geopolitical organisation of eight countries in South Asia.
“This partnership will play a significant role in regional integration and cooperation among SAARC member states, as together we can mobilize funding for larger social, economic and infrastructure projects to benefit the people of the SAARC region,” said Dr. Sunil Motiwal.
The SDF has a fund at over USD 400 million and efforts are being made to leverage these funds through partnerships and co-financing to maximize the development benefits to the SAARC region.
Through its ‘Social Window’ funding mechanism, SDF focuses on poverty alleviation and social development projects, while its Infrastructure Window covers projects in the areas such as energy, power, transportation, telecommunications, environment, tourism etc. The Economic Window is devoted to non-infrastructural funding.
Under the MOU, UNDP will provide policy and programme support at country and regional levels to undertake initiatives and bring to bear best global practice and learning on key development issues. UNDP and SDF will work collaboratively to explore and leverage resources for co-funding development efforts in SAARC Member States.
