Drukair Seeks To Procure An Airbus Through The SAARC Development Fund
To commemorate the 34th SAARC Charter Day, the SDF team also joined government officials in Thimphu to lit 1,000 butter lamps.
By Tshering Palden | Kuensel
The board project appraisal committee has approved Drukair’s proposal to buy an ATR aircraft worth almost USD 13 million under the economic sector. The project would be considered at the board meeting on December 19.
The SAARC Development Fund (SDF)’s Chief Executive Officer, Dr Sunil Motiwal said the fund is also considering Drukair’s project to procure an Airbus and has also received a funding request for aircraft from Bhutan Airlines.
Bhutan stands to benefit greatly from the SAARC Development Fund
Bhutan is also one of the largest recipients of grants from the SDF in the social sector. “I think Bhutan is going to derive the maximum benefit from the SDF,” Dr Motiwal said.
Countries which are part of the SAARC.
“The SDF will also fund country-specific projects mainly the micro, small and medium enterprises from January next year,” he said.
The SAARC Heads of State signed the Charter, establishing SAARC on 8 December 1985 in Dhaka, Bangladesh. Subsequently, in April 2010 the SDF Secretariat was established in Thimphu.
The social sector has committed more than USD 74 million and was disbursed USD 47 million for projects in the South Asian countries.
As of today, the SDF has committed more than USD 100 million for projects in infrastructure and economic sectors.
Events held in Thimphu to commemorate the 34th SAARC Charter Day
To commemorate the 34th SAARC Charter Day, the SDF team also joined government officials in Thimphu to lit 1,000 butter lamps at the Kuenray, of the Tashichhodzong.
Addressing a gathering at the programme to observe the day, Dr Sunil Motiwal said, “SDF, as an umbrella financial institution for the SAARC project and programmes, is fully committed to promote regional cooperation and integration through project funding and collaboration.”
A drama presentation on “Victory of the Spirit of South Asia” and a musical celebration of the SAARC member states were also performed.
Aims of the SAARC and SDF Charter
The fund serves as the umbrella financial institution for SAARC projects and programmes which are in fulfillment of the objectives of the SAARC and SDF Charter.
The SDF Charter also promotes the welfare of the people of the SAARC Region, improve the quality of life and accelerate economic growth.
It also spurs social progress and helps to alleviate poverty in the SAARC Region through the financing and implementation of development projects.
This article first appeared in kuensel and has been edited for the Daily Bhutan.