SAARC Fund to back 80 social enterprises

•  SAARC has launched Development Fund which will soon be launching a social enterprise development programme (SEDP) to fund 80 entities annually across eight-member states, including India.

About SAARC

• The South Asian Association for Regional Cooperation (SAARC) was established with the signing of the SAARC Charter in Dhaka on 8 December 1985. SAARC comprises of eight Member States: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat of the Association was set up in Kathmandu on 17 January 1987.
• The objectives of the Association as outlined in the SAARC Charter are: to promote the welfare of the peoples of South Asia and to improve their quality of life; to accelerate economic growth, social progress and cultural development in the region and to provide all individuals the opportunity to live in dignity and to realize their full potentials; to promote and strengthen collective self-reliance among the countries of South Asia; to contribute to mutual trust, understanding and appreciation of one another's problems; to promote active collaboration and mutual assistance in the economic, social, cultural, technical and scientific fields; to strengthen cooperation with other developing countries; to strengthen cooperation among themselves in international forums on matters of common interests; and to cooperate with international and regional organizations with similar aims and purposes.

About SAARC Development Fund

• SAARC Development Fund (SDF) is a regional funding institution operational since 2010. SDF has been established (i) to promote the welfare of the people of SAARC region, (ii) to improve their quality of life and (iii) to accelerate economic growth, social progress and poverty alleviation in the region. The Fund is to serve as the umbrella financial institution for SAARC projects and programmes and is aimed to contribute to regional cooperation and integration through project collaboration.

By: Vishal