Welcome to WordPress. This is your first post. Edit or delete it, then start writing!
Categories
Author: root
Male’, Maldives 23-25 October 2019 – SDF Counterpart Agencies from eight SAARC Member States (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka) are meeting in Male’ Maldives this week for 6th Counterpart Agencies Meeting of the SAARC Development Fund (SDF).
Hon’ble Minister for Economic Development H.E. Mr. Fayyaz Ismail graced the inaugural session of the Meeting today, 23 October 2019. During his inaugural address, the Minister committed to strengthening Maldives’ interaction with the SAARC Development Fund to increase SDF’s assistance and projects in Maldives. He said that they will be proposing more projects originating from the Maldives for co-financing by SDF.
The Counterpart Agencies comprising of members from the Ministry of Finance of eight SAARC Member States will review and discuss key issues to further promote regional integration and economic cooperation among the member countries.
The meeting is to review the status and achievements of ongoing SDF-funded projects in the SAARC Member States and discuss challenges faced in implementing these projects and as well as, the important role of the Counterpart Agencies of SDF.
SDF Counterpart Agencies are the focal points nominated by the Finance Ministry in order to coordinate and facilitate on behalf of SDF in the respective Member States.
CEO of SDF Dr. Sunil Motiwal said: “The Counterpart Agencies have a very vital role in effective implementation of projects in the SAARC Member States as they act as coordinator/ Facilitator on behalf of SDF as and when requested by SDF. Their role as Counterpart Agencies will certainly benefit SDF even more in times to come. SDF along with its counterpart agencies is fully committed to bringing synergies in the Member States through project funding.”
Some of the key points from the Member States during the meeting were potential projects for co-financing in the areas of energy, infrastructure such as roads and railways, agriculture, waste management, tourism and export of marine products. The participants also discussed SDF’s current challenges in terms of its loan pricing and lending requirements.
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. The SDF Secretariat, located in Thimphu, Bhutan, is headed by Chief Executive Officer.
SDF has an authorized capital of USD 1.5 Billion and a total capital base of USD 511.52 Million. Currently, SDF is implementing 92 projects in all SAARC Member States. There are 87 projects (under 13 areas) across all SAARC Member States under the Social Window with a fund commitment of USD 75.23 million. USD 48.37 million have been disbursed. There are five projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with a fund allocation of USD 50 million in the SAARC Member States. We have disbursed USD 13 million under Economic Window for the financing of ATR aircraft for Drukair Corporation, Bhutan. The cumulative fund commitment under the three funding windows including MSME Program stands allocation is at USD 198.23 million. Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in the SAARC Member States
“Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in the SAARC Member States,” said Dr. Sunil Motiwal.
SDF has implemented five projects in the Maldives so far: Strengthening the livelihood initiative for home-based workers in SAARC Region (Phase I & II), Strengthening Maternal and Child Health Including Immunization, South Asia Initiative to End Violence Against Children (SAIEVAC), Empowering Rural Communities : Reaching the Unreached – Setting up Community E-Centres, Toll Free Helplines for Women and Children in SAARC Member States and Livelihood Enhancement of the Small Scale Framers in SAARC Region through Small Scale Agro Business Focusing on Value Chain Development.
On the sidelines of the Meeting, CEO Dr. Motiwal will call on to the Hon’ble Finance Minister Mr. Ibrahim Ameer and Hon’ble Economic Development Minister Uz. Fayyaz Ismail. He will also meet with other senior officials and partners.
Male’, Maldives 25 October 2019: Chief Executive Officer of SAARC Development Fund, Dr. Sunil Motiwal, called on the Minister of Finance of Maldives H.E Mr. Ibrahim Ameer on October 25 in the Maldives. They discussed SDF funded projects and the possibility of further strengthening collaboration through project financing.
The minister – who is also an SDF Governing Council member – said that he will try and ensure there are more new projects for co-financing by SDF.
The CEO also called on the Minister of Communication, Science & Technology, Maldives H.E Mr. Mohamed M Jamal. They also discussed SDF-funded projects & the possibility of more projects for co-financing by SDF. The minister spoke of projects related to setting up of ICT and software hub in the Maldives.
SDF also had fruitful discussions with Mr. Ali Naseer Mohamed, Secretary, Multilateral and Ms. Fathimath Ghina, Joint Secretary, Ministry of Foreign Affairs. CEO briefed them about SDF-funded projects under the three windows of SDF & the fund allocated to the Maldives.
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. The SDF Secretariat, located in Thimphu, Bhutan, is headed by Chief Executive Officer.
Currently, SDF is implementing 92 projects in all SAARC Member States. There are 87 projects (under 13 areas) across all SAARC Member States under the Social Window with a fund commitment of USD 75.23 million. USD 48.37 million have been disbursed. There are five projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with a fund allocation of USD 50 million in the SAARC Member States. We have disbursed USD 13 million under Economic Window for the financing of ATR aircraft for Drukair Corporation, Bhutan. The cumulative fund commitment under the three funding windows including MSME Program stands allocation is at USD 198.23 million. Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in the SAARC Member States
“Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in the SAARC Member States,” said Dr. Sunil Motiwal.
Two projects – Consortium for scaling up climate-smart agriculture in South Asia and the Second phase of Inter-professional Master’s Programme in Rehabilitation Science – were approved.
The Project – Consortium for scaling up climate-smart agriculture in South Asia – with International Fund for Agriculture Development (IFAD) and through SDF’s funding will promote sustainable and resilient agricultural intensification in Afghanistan, Bhutan, Pakistan, and Sri Lanka through enhanced Climate-Smart Agriculture (CSA) capacity and technologies. The project will be implemented by National Agricultural Research and Extension Systems (NARES) and SAARC Agricultural Centre (SAC).
CEO of SAARC Development Fund Dr. Sunil Motiwal said that this project worth USD 3.32 million will directly benefit over 7,500 smallholder farmers as well as researchers, extension workers, and policymakers in Afghanistan, Bhutan, Pakistan, and Sri Lanka.
“Impacts of climate change are felt across South Asia and we believe that there is a need to enhance the adaptive capacity of smallholder farmers,” he said.
Smallholders will participate in the validation of CSA technologies and will benefit from training, exposure visits, and knowledge events. Hence overall, more than 100,000 smallholders will benefit indirectly from the development of strategies for scaling up CSA technologies. This is in addition to IFAD’s approved regional grant to support the launch of C-SUCSeS in Bangladesh, India, and Nepal.
The second project approved by the Board – Second phase of Inter-professional Master’s Programme in Rehabilitation Science for USD 1.5 million– will develop highly qualified professionals in the area of Rehabilitation Science to enable the provision of quality rehabilitation policies and services to people with disability in all the eight SAARC Member States. The Masters Programme is offered at the Bangladesh Health Professions Institute (BHPI), Centre for the Rehabilitation of the Paralysed (CRP).
Through this project, there will be 150 Direct Beneficiaries, 660 graduate and undergraduate students as secondary beneficiaries annually, and 234,432 patients or the disabled or people with chronic health conditions per year as ultimate beneficiaries.
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. The SDF Secretariat, located in Thimphu, Bhutan, is headed by Chief Executive Officer.
SDF has an authorized capital of USD 1.5 Billion and a total capital base of USD 511.52 Million. Currently SDF is implementing 80 projects (12 areas) under its Social Window funding scheme with fund commitment of USD 73.74 million and two more projects are approved in principle in social sector, 5 projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with fund allocation of USD 50 million in SAARC Member States. The cumulative fund commitment under the three funding windows including MSME Program stands at USD 197.4 million.
“Further, more than 10 bankable projects including projects in Sri Lanka are also under active consideration of SDF to co-finance in the SAARC Member States,” said Dr. Sunil Motiwal.
Thimphu Bhutan, 13 August 2019 –The Ministry of Finance, Royal Government of Bhutan (RGoB), SAARC Development Fund (SDF) and Drukair Corporation Limited today signed a US$13 million (around Nu 918 million) loan agreement to finance the purchase of Drukair ATR aircraft.
The signing ceremony was held at the Ministry of Finance, Tashichho Dzong, Thimphu. Documents were signed by the Hon’ble Finance Minister of Bhutan, Lyonpo Namgay Tshering, CEO of SAARC Development Fund Dr. Sunil Motiwal and CEO of Drukair Corporation Limited Mr. Tandi Wangchuk.
Ministry of Finance – “The financing of ATR 42-600 with US $ 13m is the first loan under the economic and Infrastructure windows of SDF. The financing will open up opportunities for Drukair with additional fleets to explore additional routes within the region and enhance regional integration and connectivity,” said Finance Minister, Lyonpo Namgay Tshering.
Lyonpo said that “this is the first of its kind for Royal Government of Bhutan and SDF to have a loan sanctioned under SDF’s Economic Window.” He thanked SDF for the generous support, which includes over US$32 million for ongoing and future projects in Bhutan.
SDF– “SDF financing would help Drukair Corporation Limited extend aviation connectivity with Bangladesh, India, and Nepal and thus, providing economic connectivity and regional integration,” said CEO of SAARC Development Fund, Dr. Sunil Motiwal. He said that the project comes under the trade and economic sector of the Economic Window of SDF. SDF has three funding windows: Social, Economic, and Infrastructure.
Drukair Corporation Ltd – “Drukair is grateful to RGoB, Royal Monetary Authority and SDF for financing the replacement of the existing ATR 42-500 with state of art ATR 42-600, which will enhance safety and reliability of operations both in the domestic and regional sectors. This complements our plans and efforts in expanding and enhancing the fleet. The new ATR with enhanced features will join our fleet within this September and the new additional Airbus A 320 Neo will join in the first quarter of 2020,” said Drukair CEO Tandi Wangchuk.
Governor of Royal Monetary Authority, Dasho Penjore, who was also present at the signing ceremony, said that today was a historic moment for the Royal Government of Bhutan, SDF, and Drukair towards promoting regional integration.
Bhutan attracts more than 254,704 regional and international tourists in a year and the ATR Financing will help in further increase these numbers. Trade & Economics, Transportation, Tourism are all the focus areas under the Economic & Infrastructure Windows of SDF and this project fulfills SDF’s mandate of Regional Integration and Collaboration Through Project Financing.
The purchase of the aircraft project for Drukair Corporation Limited in Bhutan was approved by the 30th SDF Board of Directors meeting in December 2018.
“The project would not only help Bhutan promote its tourism sector but also ensure greater connectivity to achieve economic development in the region. Thereby, promoting the welfare and prosperity of the people in the SAARC region,” said Dr. Motiwal. It also benefits in the form of Trade Facilitation and Tourism Development for Bhutan.
The SAARC Development Fund, since its inception in April 2010 by the heads of the eight SAARC Member States, is mandated to build regional integration and economic cooperation through project funding in all the eight SAARC member states – Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The Secretariat is based in Thimphu Bhutan.
SDF has an authorized capital of USD 1.5 Billion and a total capital base of USD 511.52 Million. Currently SDF is implementing 12 projects under the Social window with fund commitment of USD 73.74 million and two more projects are approved in principle in social sector, 5 projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with fund allocation of USD 50 million in SAARC Member States. The cumulative fund commitment under the three funding windows including MSME Program stands at USD 197.4 million. Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in the SAARC Member States.
SDF has committed a total of USD 31.48 million for ongoing and future projects in Bhutan. Of the total, SDF has funded over 10 projects in Bhutan worth USD 8.48 million under its Social Window as grants, USD 13 million under the Economic Window for purchase of Druk Air ATR aircraft and allocated USD 10 million under Micro Small and Medium Enterprises (MSME) funding scheme of SDF.
The SAARC Development Fund’s Social Window has supported a total of 10 projects in Bhutan worth USD 8.48 million. 7 out of the 10 projects were successfully completed.
SDF officials led by the Chief Executive Officer Dr Sunil Motiwal briefed His Excellency the Prime Minister on the current activities, achievements and future action plans of SDF. Lyonchhen was presented on the ongoing projects of SDF in Bhutan under its Social, Economic and Infrastructure Windows. An overview of the upcoming pipelines projects was also presented along with SDF’s Micro, Small and Medium Enterprises (MSME) funding scheme in all SAARC 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 eight SAARC member states – Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat is based in Thimphu Bhutan.
“It is an honour for us at SDF to welcome His Excellency the Prime Minister to our office to share the current status and achievements of SDF and the investment opportunities for Bhutan,” said CEO Dr Sunil Motiwal.
He added that Bhutan is one of the Member States that has derived maximum benefits from SDF’s various funding schemes. SDF has committed a total of USD 31.48 million for ongoing and future projects in Bhutan. Of the total, SDF has funded over 10 projects in Bhutan worth USD 8.48 million under its Social Window as grants, USD 13 million under the Economic Window for purchase of Druk Air ATR aircraft and allocated USD 10 million under Micro Small and Medium Enterprises (MSME) funding scheme of SDF.
Projects under the Social Window ranges from newborn and maternal health, women empowerment, violence against children, agriculture to setting up of community e-centres, supporting thousands of home-based workers and providing livelihood enhancement of small scale farmers. So far, 7 of the 10 projects have been successfully closed benefiting over thousands of children, women and men in Bhutan. Five more projects are under active consideration for co-financing along with UN and International Agencies.
During the meeting, Lyonchhen said that such meetings open the door for further discussion and collaboration. He said that he is keen to explore many priority areas of the government especially the agriculture-oriented Cottage and Small Industry (CSI). “I feel that agriculture is not fully explored to its full potential at the moment. About 58 percent of the Bhutanese are farmers and yet 3.6 percent of the employment is in the agriculture-related sector,” he said. “I can see many linkages including the CSI agriculture enterprises where Royal Government of Bhutan can work together with SDF.”
The Prime Minister was accompanied by Cabinet Secretary and officials from the Prime Minister’s Office.
SDF has an authorized capital of USD 1.5 Billion and total capital base of USD 511.52 Million. Currently SDF is implementing 12 projects under the Social window with fund commitment of USD 73.74 million and two more projects are approved in principle in social sector, 5 projects under the Economic and Infrastructure windows (including 2 in-principle approved projects) with a fund commitment of USD 73 million and MSME Program with fund allocation of USD 50 million in SAARC Member States. The cumulative fund commitment under the three funding windows including MSME Program stands at USD 197.4 million. Further, more than 10 bankable projects are also under active consideration of SDF to co-finance in SAARC Member States.
************************************************************************************
7 out of 10 projects successfully completed to benefit thousands of people in Bhutan
The SAARC Development Fund’s Social Window has supported a total of 10 projects in Bhutan worth USD 8.48 million. 7 out the 10 project were successfully completed. Results from these SDF-funded projects were finally achieved in order to benefit thousands of people in Bhutan.
Projects closed successfully:
Strengthening the livelihood initiative for home based workers in SAARC Region – A project through which thousands of home-based workers were trained, sales outlets were established and run by women workers, many workers were employed and generated a income for these home-based workers.
Strengthening Maternal and Child Health Including Immunization in the SAARC Member States – Through the project:
Upgraded 65 health centers
Trained 13 participants
Conducted 1 TOT and trained 22 participants
Conducted capacity building of doctors by master trainers.
Scaling up of Zero Energy Cold Storage (ZECS) technology for the horticultural commodities in the high hills of SAARC countries
4 ZECs constructed
1031 farmers were trained on quality production and ZECS technology construction
374 farmers trained on postharvest handling and storage
1467 farmers were covered under the project.
1050 crates of fruits and vegetables stored in ZECS
Empowering Rural Communities, “Reaching the Unreached”
60 Community e-Centers (CeCs) established with SDF support in 60 gewogs.
’60 CeCs provided IT equipment, furniture -‘
10 CeCs provided internet connectivity
South Asia Initiative to End Violence Against Children (SAIEVAC) – Thousands of outreach/awareness materials on Child Protection printed and distributed; Developed IEC materials on Child Projection; people (media, parents, students and parliamentarian) were sensitized on Violence against Children (VAC).
Post Harvest Management and Value Addition of Fruits in Production Catchments in SAARC Countries – Established pack houses, processing centers, cold stores, fruit ripening chambers and banana value addition facilities to benefit hundreds of farmers in Bhutan.
Strengthening of Water, Sanitation and Hygiene (WASH) services in selected areas of SAARC Countries – Hundreds of women/household workers/ farmers provided with safe drinking water and adequate water for small scale livelihoods, such as home garden cultivation, floriculture, animal husbandry, and food processing etc. in SAARC Member States including in Bhutan.
Project under active consideration of SDF:
Consortium for Scaling Up Climate Smart Agriculture in South Asia
Co-funded by IFAD (USD 3.5 million) with co-financing from SAARC Agricultural Centre, International Food Policy Research Institute, CGIAR Global Program on climate change adaptation and Food Security, and National Agricultural Research and Extension Systems.
The funding requested from SDF is 750,000 USD.
Participating countries: Afghanistan, Bhutan, Pakistan and Sri Lanka
SAARC B2B and E-Commerce Trade Portal
SDF funding- USD 54,705
SAARC CCI-USD 54,720
Participating countries- All SAARC Member States
WFP-Scaling up fortified rice through social safety net programs and commercial outlets across Nepal, Sri Lanka and Bhutan
Total amount requested from SDF: USD $ 9,361,667
Total contribution through co-funding: USD $ 17,066,000
Participating Countries: Bhutan, Nepal and Sri Lanka
UNICEF – For Every Child – Realizing the full Potential: Sustainable Development Goals (SDGs) Data generation, Analysis and Early Childhood Development.
Participating countries : Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka
Total amount requested from SDF :$6,100,000
Total contribution through co-funding: $5,795,000.00
UNESCAP- E-Commerce Capacity Building for Women-led SMEs in South Asia
Participating countries :All
Total Co-financing amount: US $ 498,300
EIF Enhanced Integrated Framework is contributing US $ 498,300
Total requested amount from SDF : US$ 498,300
CEO of SAARC Development Fund Dr Sunil Motiwal addressed the opening session of 2nd SAARC-PTB workshop on Best Practice in Metrology Law Department. The CEO spoke on the co-financing of regional cross-border projects aimed towards harmonizing of standards for SAARC Member States including setting up of learning/knowledge centre, adoption of best practices, capacity development, application of ICT and infrastructure development in the areas of metrology legal development. He urged the members to develop a cross-border project in SAARC Member States for funding by SDF.
CEO of SAARC Development Fund, Dr Sunil Motiwal met with Mr Chanchal Chand Sarkar, SAARC Director for Economic, Trade and Finance at the SAARC Development Fund Secretariat today.
Categories
Meeting with the team from IFAD
Meeting with the team from IFAD consisting of Ms Louise McDonald, Country Director for Bhutan, Mr. Michael Hamp, Regional Technical Specialist, IFAD consultant and colleagues from Agriculture Ministry of Bhutan to discuss agriculture oriented projects for co funding by the SAARC Development Fund.
Categories
Investors from the United Kingdom
Taking forward the economic funding window of SAARC Development Fund. Met with a group of investors from the United Kingdom led by Bhutan’s Honorary Consul for UK Mr Michael Rutland at the SDF secretariat today. We discussed projects related to coffee and natural products.
About Me
Dr. Sunil Motiwal is the Chief Executive Officer (CEO) of the SAARC Development Fund (SDF).
