Bhutan to host SDF

Thimphu, August 08: Bhutan will be the host for SAARC Development Fund (SDF), agreed during the recent summit in Colombo that will be an umbrella financial institution for all SAARC projects.

Prime Minister Jigmi Thinley expressed satisfaction after the summit for being able to convince other leaders to place the fund headquarters in Thimphu.
 
SDF will finance the social, economic, and infrastructure development sectors in the region.

India’s contribution to the fund will be about US$300 million and Bhutan’s could be US$15-20 million. The ratio has not been fixed. There are possibilities of funding from World Bank and Asian Development Bank.

SDF will come into operation after all the member states of SAARC ratify the agreement in their respective parliaments.

SDF was first proposed by fourth Druk Gyalpo Jigme Singye Wangchuk in 1991. Bhutan News Service