SAARC TO LAUNCH SOCIAL ENTERPRISE DEVELOPMENT PROGRAMME

SAARC Development Fund will soon be launching a social enterprise development programme to fund 80 entities annually across eight-member states, including India. 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. 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. SDF has already committed $73.74 million for social window projects.

The SEDP is being launched as part of its SAARC Development Fund’s social window.

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.

About SAARC Development Fund:

SDF which was established by the heads of the eight SAARC Member States in April 2010. SDF have three Windows. They are Social, Economic and Infrastructure Windows.

Its governing council comprises finance ministers of the SAARC countries.

The aim of the fund is to:

Promote the welfare of the people of SAARC region.

Improve their quality of life.

Accelerate economic growth, social progress and poverty alleviation in the region.

A primary reason for establishing SDF was that the existing South Asian Development Fund (SADF) was found to be inadequate i.e. in terms of required quantum of funds and its limited scope of work. The Thirteenth SAARC Summit decided to reconstitute the SADF into SDF to serve as the “umbrella financial mechanism” for all SAARC projects and programmes.

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