In this Issue:
 |
Activation of Economic and Infrastructure Windows |
|
SDF Board of Directors, and Counterpart Agencies Meetings |
|
Launching of MSME Program in SAARC Member States |
|
CEO SDF official visit to Nepal to attend meetings |
|
SDF commemorate SAARC Charter Day |
|
CEO SDF meeting with Prime Minister of Bhutan |
|
Project Inception Meeting of Implementing Agencies |
|
CEO SDF participation in UN-ESCAP Summit, 2018 |
|
Trainings for SDF Staff |
|
Independent Evaluation of SDF funded projects in SAARC Member States |
|
Summary of SDF Funded project in SAARC Member States |
Economic and Infrastructure windows of SDF fully activated after approval of the five projects
With the approval of five projects the Economic and Infrastructure windows stand fully activated. Approved project details are as under:
Economic Window:
- Purchase of new ATR aircraft for Drukair Corporation under sovereign guarantee extended by the Royal Government of Bhutan.
Infrastructure Window:
- Expansion of Koshi Corridor 220 kV Transmission Line Project in Nepal
|
|
- 37 MW Upper Trishuli 3B Hydroelectric Project in Nepal
- 13.2 MW Fairway Waste to Energy Project in Sri Lanka (in principally approved).
- GMR 900MW Upper Karnali Hydroelectric project in Nepal (in principally approved).
Total amount USD 73 Million is allocated for these projects and it is expected that loan disbursement will take place in second quarter of year 2019. |
|
|
| |
Board of Directors and Counterpart Agencies Meetings concluded with approval of three projects and MSME Program SDF convened Meetings of Board of Directors, Finance & Audit Committee, Board Project Appraisal Committee, Board Human Resource Committee, and Counterpart Agencies from December 16 to 21, 2018 in New Delhi India. Brief detail of meetings is an under:
Thirtieth Meeting of SDF Board of Directors - Thirtieth Meeting of SDF Board of Directors was held on
December 18 and 19, 2018 in New Delhi India. The Board meeting concluded with approval of following three projects under the Economic and Infrastructure Windows of SDF:
Economic Window:
- Financing, purchase of new ATR aircraft for Drukair Corporation under sovereign guarantee extended by the Royal Government of Bhutan with SDF
financing up to USD 13 million.
Infrastructure Window:
- Financing, 37MW Upper Trishuli Hydroelectric power plant for the SPV-Trishuli Jal Vidyut Company Ltd with SDF financing up to USD 15 million.
- Financing Government of Nepal for onward lending to Nepal Electricity Authority (NEA) for Expansion of Koshi Corridor 220 kV up to USD 15 million.
With the approval of these three projects, SDF Economic and Infrastructure Windows are now fully activated. The cumulative fund commitment for three approved projects and two in-principle approved under the E&I Windows is USD 73 million. Micro, Small and Medium Enterprise (MSME) funding scheme got approved by the Board. It is expected that the program will be launched soon in all SAARC Member States.
Ninth Meeting of Finance & Audit Committee - Ninth Meeting of Finance & Audit Committee was held on December 17, 2018 in New Delhi India. The Committee discussed in detail key issues related to the budget and recommended the Budget for FY 2019 for approval of the Board.
Fourth Meeting of Board Project Appraisal Committee - Fourth Meeting of Board Project Appraisal Committee was held on December 16, 2018 in New Delhi. The committee concluded with recommendations to the Board for final approval of three projects under the E&I windows and two projects under the Social Window.
Fifth meeting of the Counterpart Agencies - Fifth meeting of the Counterpart Agencies was held on December 20, 2018 in New Delhi. CEO, SDF emphasized on identification of projects for Economic, Infrastructure and Social Windows and Launching of MSME Program in respective Member States. He mentioned that as the Program has been approved so counterpart agencies shall provide support to SDF in identification of MSME Banks/Institutions in their respective Member States. |
Micro, Small and Medium Enterprise (MSME) funding scheme is ready to launch in SAARC Member States
SDF is launching its Micro, Small and Medium Enterprise (MSME) funding scheme in SAARC
Member States. The MSME funding scheme comes under the Economic Funding Window of
SDF. The Fund has earmarked an amount of USD 25 to 30 million to be disbursed under the
MSME funding scheme in FY 2019. The MSME loan shall be extended to specialized MSME
banks in SAARC Member States on sovereign guarantees.
In his remarks, Dr. Motiwal, CEO SDF emphasized on the need to create an integrated,
poverty-free, and prosperous South Asia region through project funding and collaboration.
The Fund is working tirelessly to promote regional cooperation and integration in the SAARC
region. |
 |
|
 |
CEO SDF ATTENDED ANNUAL COORDINATION AND PROGRAMMING COMMITTEE MEETINGS AND MET FINANCE MINISTER, AND MEMBER OF THE SDF GOVERNING COUNCIL AS WELL AS BOARD DIRECTOR AND ALTERNATE BOARD DIRECTORS
During visit to Nepal CEO, SDF attended Annual Coordination Meeting with the SAARC Regional Centers and Specialized Bodies on December 10, 2018 at the SAARC Secretariat, Kathmandu. CEO, SDF also attended 56th Session of SAARC Programming Committee Meeting held on December 11 and 12, 2018 at the SAARC Secretariat, Kathmandu. These important meetings will contribute to deliberations as a key mover for regional cooperation.
During the visit, CEO SDF had meetings with H.E. Dr. Yuba Raj Khatiwada, Finance Minister, Government of Nepal and member of the SDF Governing Council as well as Board Director and Alternate Board Directors. Projects under active consideration of SDF were discussed and H.E. Dr. Yuba Raj Khatiwada assured support of the Government of Nepal regarding these projects. |
|
SAARC Charter Day reflect the desire of Member States to work collectively to promote to promote the welfare of the people of SAARC region
At the 34th SAARC Charter Day commemoration in Thimphu on December 8, 2018, SDF hosted a program vouching their unwavering support and commitment to the SAARC process. The event brought together ministers, high-ranking government officials, heads of international organizations, and civil society representatives. H.E. Lyonpo Namgay Tshering, Finance Minister, Royal Government of Bhutan and member of the SDF Governing Council graced the
occasion. At this occasion, Dr. Sunil Motiwal, CEO, SDF underscored that more than 100 million are committed for projects funding in SAARC Member States and that Bhutan is among the largest recipients of SDF funding. He further mentioned that SDF has made notable strides to solicit and implement regional projects under economic and infrastructure windows to promote regional integrations among SAARC Member States. H.E. Lyonpo Namgay Tshering, emphasized on the need of developing the SAARC region as a whole and expressed confidence in SDF ability to work for the region. |
|
 |
|
 |
PRIME MINISTER OF BHUTAN APPRECIATED SDF ROLE TO PROMOTE WELFARE OF THE PEOPLE OF SAARC REGIONDr. Sunil Motiwal, Chief Executive Officer of SAARC Development Fund met H.E. Lyonchhen Dr. Lotay Tshering, Prime Minister of Bhutan and briefed him about current scenario and future action plan of SDF. He mentioned that, SDF as regional funding institution has funding various projects under three funding windows namely- Social, Infrastructure and Economic Windows in Member Stats and Bhutan is one of the largest recipients of SDF funding.
His Excellency was also briefed on the new initiatives/programs of SDF on Social Enterprise Development Program and the MSME Program. His Excellency expressed his appreciation toward SDF's role in promoting Regional Integration as well as its role to promote the welfare of the people of SAARC region, improve their quality of life, and accelerate economic growth, social progress and poverty alleviation in the region. |
|
PROJECT INCEPTION MEETING HELD IN THIMPHU, BHUTANProject inception meeting was successfully held by SDF from 26 - 27 November 2018 in Thimphu Bhutan for the Implementing Agencies and Coordinating Agency for the project "Livelihood Enhancement of the small farmers in SAARC Region through small scale agro business focusing on value chain". The project was approved by the SDF board during the 28th Board Meeting as co-funding either in kind or cash contribution ranging from 12 to 100% of the total project budget with 8 SAARC Member States participation and SAC as its Coordinating Agency (CA). The total approved project budget is USD 2,249,694.00 (SDF funding USD 1,813,972.00 and co-funding from Implementing Agencies (IAs) and Coordinating Agency USD 435,722). |
|
 CEO SDF ATTENDED UN-ESCAP SUMMIT, 2018CEO SDF attended Expert Group Meeting on Investment Needs for Achieving the Sustainable Development Goals in Asia and the Pacific held on November 14 and 15, 2018 in |
|
Bangkok, Thailand. The two-day Expert Group Meeting brought together experts from across the UN and other international organizations as well as leading think-tanks and universities in the Asia-Pacific region, with a view to developing a comprehensive assessment of investment requirements for achieving the SDGs by 2030. CEO SDF delivered presentation on investment needs in Economic and infrastructure sectors of South Asia. It was well attended by Asian countries. CEO SDF also met, Ms. Armida Salsiah Alisjahbana, Executive Secretary UNESCAP and Ms. Valerie Cliff, Deputy Director, Regional Bureau for Asia & Pacific to discuss deepening future collaborations between the SDF and UNESCAP. "Our comparative advantages complement each other's work. ESCAP's work and capacity development initiatives complement SDF's operational and financing work. Our partnership is particularly relevant in assisting SAARC Member states to implement and monitor projects." said Dr. Motiwal. |
|
ADVANCED TRAINING ON ACCOUNTING AND FINANCIAL MANAGEMENT IMPARTED TO PROFESSIONAL AND OTHER SDF THROUGH RENOWENED FINANCIAL AND ACADEMIC INSTITUTIONS
Hands on experience and knowledge on Project Appraisal and Project Financing was imparted to SDF professional and other staff- Financial Institutions Training Institute (FITI), a leading training institute established by Bank & Financial Institutions and the Central Bank in Bhutan, provided an exclusive tailor-made training to SDF Staffs on Project Finance on October 27-28, 2018 and on Project Appraisal on December 1-2, 2018. Eight SDF officials participated in the training and gained more better understanding of Project Financing and Appraisal Techniques.SDF professional staff attended advanced training on Accounting and Financial Management held at Indian Institute of Management Kozhikode, India (Kochi Campus) on November 21 - 23, 2018. Eight SDF officials participated in the training. The 3 days training imparted hands on practical exposure on
analysis of financial statements, management accounting for decision making, investment appraisals and simulation techniques. Training was arranged for SDF professional and other staff on how to better and effectively manage Loan and Grant Managements using Information Management System. Eight SDF officials participated in the training. The training was held at SDF Secretariat, Thimphu, Bhutan from December 25-24, 2018. SAARC Development Fund Secretariat is involved in multilateral funding activities through grants and loans to sovereign and non-sovereign entities through various programmes. Participants were briefed on available MIS technologies and the effective management of grant and loan through MIS including- collection, assimilation, aggregation, calculation, and analyses of data, and generating customised reports. |
Independent Evaluation of SDF funded projects in SAARC Member States
Independent Evaluation of SDF funded Project: “Postharvest Management and Value Addition of Fruits In Production Catchments In SAARC Countries” has revealed that the project has positively impacted lives of targeted communities and post-harvest losses have been reduced.
Independent Evaluation of SDF funded Project: “Strengthening the Livelihood Initiative for Home-based Workers In SAARC Region (SABAH) (Phase-II)” has revealed that the project has positively impacted the lives of targeted communities and new product development has taken place.
Independent Evaluation of SDF funded Project: “Strengthening of Water, Sanitation and Hygiene (WASH) Services in Selected Areas of SAARC Countries” has revealed that the project has positively impacted and health index of the targeted communities improved as well as Open Defecation Free (ODF) status is improved
|
|
Independent Evaluation of SDF funded projects (a) Strengthening the livelihood initiative for home based workers in SAARC Region (SABAH) (Phase 2); (b) PostHarvest Management and Value addition of Fruits in Production catchments in SAARC Countries; and (c) Strengthening of Water, Sanitation and Hygiene (WASH)
Services in selected areas of |
|
SAARC countries was conducted through third party (KPMG) with an overall objective to assess the relevance, impact, sustainability,
effectiveness, efficiency and sustainability of the projects in accordance with the United Nations Evaluation Group (UNEG) Evaluation Norms as well as OECD-DAC
evaluation principles and guidelines. |
|
Summary of SDF Funded Project in SAARC Member States
Status of Projects under the Economic Window of SAARC Development Fund
Sl No |
Description of Project |
Member State of Origination |
Participating Member States |
Loan Amount
(USD Million) |
Sovereign/ Non Sovereign/
Grant |
Status |
1 |
Purchase of new ATR aircraft for Drukair Corporation under sovereign guarantee extended by the Royal Government of Bhutan |
Bhutan |
Bangladesh, India and Nepal |
13 |
Sovereign |
Approved |
|
Total Fund Commitment |
13 |
|
|
|
Status of Projects under the Infrastructure Window of SAARC Development Fund
Sl No |
Description of Project |
Member State of Origination |
Participating Member States |
Loan Amount
(USD Million) |
Sovereign/ Non Sovereign/
Grant |
Status |
1 |
37MW Upper Trishuli Hydroelectric power plant for the SPV- TrishuliJalVidyut Company Ltd with SDF financing up to USD 15 million. |
Nepal |
India |
15 |
Non Sovereign |
Approved |
2 |
Proposal to finance Government of Nepal for onward lending to Nepal Electricity Authority (NEA) for Expansion of Koshi Corridor 220 kV Transmission Line Project being extended to the Government of Nepal |
Nepal |
India |
15 |
Sovereign |
Approved |
3 |
900 MW GMR Upper Karnali Hydropower Project in Nepal |
Nepal |
India |
15 |
Non Sovereign |
In-principle Approved |
4 |
13.2 MW Waste to Energy Project of Fairway Waste Management Private Limited in Sri Lanka |
Sri Lanka |
India |
15 |
Non Sovereign |
In-principle Approved |
|
Total Fund Commitment |
60 |
|
|
|
Fund Allocation under the Micro, Small & Medium Enterprises (MSME) Program
Sl No |
Description of Project |
Member State of Origination |
Participating Member States |
Loan Amount
(USD Million) |
Sovereign/ Non Sovereign/
Grant |
Status |
1 |
MSME Program |
All SAARC Member States |
All SAARC Member States |
50 |
Sovereign |
Approved |
|
Total Fund Allocation |
50 |
|
|
|
Status of Projects under the Social Window of SAARC Development Fund
Sl No |
Description of Project |
Member State of Origination |
Participating Member States |
Grant Amount
(USD Million) |
Sovereign/ Non Sovereign/
Grant |
Status |
1 |
Strengthening the livelihood initiative for home based workers in SAARC Region |
SEWA, Ahmedabad, India |
All SAARC Member States |
21.07 |
Grant |
Closed except for Bangladesh, Sri Lanka |
2 |
Strengthening Maternal and Child Health Including Immunization |
HLL Lifecare Ltd, India |
All SAARC Member States |
15.03 |
Grant |
Closed except for Pakistan |
3 |
Scaling up of Zero Energy Cold Storage (ZECS) technology for the horticultural commodities in the high hills of SAARC countries |
Nepalese Farming Institute, Nepal |
Afghanistan, Bhutan, India and Nepal |
3.38 |
Grant |
Closed |
4 |
Empowering Rural Communities : Reaching the Unreached |
Ministry of Information Communication, Bhutan |
Bangladesh, Bhutan, Maldives and Nepal |
7.93 |
Grant |
Closed |
5 |
South Asia Initiative to End Violence Against Children (SAIEVAC) |
SAARC Secretariat, Nepal |
All SAARC Member States expect India |
2.60 |
Grant |
Closed |
6 |
Post- Harvest Management and Value Addition of Fruits in Production Catchments in SAARC Countries |
SAARC Secretariat, Nepal |
All SAARC Member States except India |
4.97 |
Grant |
Closed |
7 |
Regional Inter-professional Master’s Program in Rehabilitation Science |
Center for Rehabilitation of Paralysed (CRP), Bangladesh |
Bangladesh |
1.50 |
Grant |
Active |
8 |
Toll Free Helplines for Women and Children in SAARC Member States |
SAARC Secretariat, Nepal |
All SAARC Member States expect India |
4.00 |
Grant |
Active |
9 |
Strengthening of Water, Sanitation and Hygiene (WASH) services in selected areas of SAARC Countries |
SEWA, Ahmedabad, India |
Afghanistan, Bhutan, India, Nepal, Pakistan and Sri Lanka |
6.29 |
Grant |
Closed except for Nepal and Pakistan |
10 |
Promoting Integrated Bamboo Based Enterprise Development among SAARC Countries |
Foundation for MSME Clusters (FMC), India |
Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan |
4.38 |
Grant (Co-funding) |
Active |
11 |
Networking and capacity building of women entrepreneurs (SMEs) from SAARC Countries |
Pakistan Science Foundation, Islamabad, Pakistan |
All SAARC Member States |
0.73 |
Grant |
Active |
12 |
Livelihood enhancement of small farmers in SAARC region through small agro-business focusing on value chain development |
SAARC Agriculture Centre & CIRDAP, Bangladesh |
All SAARC Member States |
1.81 |
Grant (Co-funding) |
Active |
|
Total Fund Commitment |
73.69 |
|
|
|
Social Window – New Projects
Sl No |
Description of Project |
Member State of Origination |
Participating Member States |
Loan Amount
(USD Million) |
Sovereign/ Non Sovereign/
Grant |
Status |
1 |
SAARC B2B and E-Commerce Trade Portal |
SAARC Chamber of Commerce and Industry |
All SAARC Member States |
0.05 |
Grant (Co-funding) |
In-principle Approved by BPAC |
2 |
Consortium for Scaling Up Climate Smart Agriculture in South Asia |
International Fund for Agricultural Development (IFAD), Delhi Office. |
Bhutan, Pakistan and Sri Lanka |
0.60 |
Grant (Co-funding) |
In-principle Approved by BPAC |
|
|
