CEO of SAARC Development Fund (SDF) Dr. Sunil Motiwal has revealed a loan facility of USD 10 million has been allocated to Maldives to develop Small and Medium Enterprises (SMEs).
Speaking to PSM News, Sunil Motiwal said SDF is planning to launch important developmental projects for SAARC countries coinciding its 6th meeting. The projects include a programme titled Micro, Medium and Small Enterprises to develop the economy and infrastructure of SAARC nations and Maldives has been allocated a loan amount of USD 10 million.
Sunil Motiwal has held talk with Minister of Economic Development Fayyaz Ismail and the meeting generated positive results and discussions. He said the discussions included aspects of health and tourism sector while it they also discussed how SDF can collaborate with the administration to develop economic activities in Maldives. He expressed interest of SDF in investing in fisheries and agriculture development in Maldives.
Currently 7 projects are underway in Maldives as part of SDF Social Window scheme, out of which 5 projects have begun, while 4 projects will be completed soon.
SDF is currently running 98 projects in 8 countries. SDF has invested USD 198 million for development projects in SAARC countries.