Tbilisi, Georgia, May 02, 2024: The SAARC Development Fund (SDF) convened its seventh meeting of the Governing Council in Tbilisi, Georgia, on the sidelines of the Annual Meeting of the Asian Development Bank.
The meeting was attended by Hon’ble Finance Ministers, Finance Secretaries, and Senior Officials from the SAARC Member States. It underscored SDF’s unwavering commitment to advancing regional integration and economic cooperation through project-based collaboration among its member states.
The SDF Secretariat officials announced that the Governing Council had approved several critical issues related to the future strategies and action plan of the SAARC Development Fund.
In line with the SDF Charter and Bye-Laws, the Chair of the Governing Council, His Excellency Mr. Shehan Asanka Semasinghe, Honourable State Minister of Finance, Sri Lanka, inaugurated the meeting. His Excellency welcomed the delegation of the Member States and expressed his hopes for a productive session.
In accordance with the SDF Bye-Laws, His Excellency Mr. Abul Hassan Mahmood Ali, MP, Hon’ble Minister, Ministry of Finance, Government of the People’s Republic of Bangladesh, was elected as the next Chair of the Governing Council of the SAARC Development Fund (SDF), while Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance of Bangladesh, was appointed Chair of this Meeting. The newly appointed Chair expressed his gratitude and welcomed the delegation.
Speaking at the Governing Council meeting, the Secretary General of SAARC, H.E. Mr. Golam Sarwar, highlighted the significance of the SAARC Development Fund in financing regional projects aimed at enhancing the quality of life for people in the Member States. He emphasized that the success of the SDF represents a shared ambition for a brighter future.
Reflecting on the impact of the COVID-19 pandemic, the SAARC Secretary General underscored the critical need for collective action and the role of SAARC in regional recovery efforts. He called for the prompt appointment of a CEO to ensure the SDF’s smooth operation.
SDF is dedicated to the welfare of the people of the SAARC region, aiming to improve their quality of life through accelerated economic growth, social progress, and poverty alleviation. This is achieved through three financing windows: social, economic, and infrastructure.
During the meeting, the Governing Council adopted the Minutes of Board Meetings and Audited Financial Statements.
