SAARC Development Fund (SDF) has allocated USD 5 million for COVID-19 emergency response in SAARC member states.
The funds were allocated under the Social Window (SW) thematic areas of SDF. The funds are issued in order to provide support to member states in their efforts towards responding to the COVID-19 pandemic and to protect the people of member states by mitigating the financial losses and severe socio-economic impact of the pandemic.
SDF stated the funds will be issued specifically for COVID-19 response or mitigation projects in SAARC member states. The eligibility criteria for the funds include having at least 3 member states collaborating on the project. Additionally, NGOs and private organisations seeking funds must be registered in a SAARC member nation and have a minimum of 5 years’ experience in the related field.
SDF was established in 2010 as the financial institution for SAARC projects and programmes. SDF is currently conducting over 90 projects, worth approximately USD 198 million.
Member states of SAARC are Maldives, India, Sri Lanka, Pakistan, Bangladesh, Bhutan, Nepal and Afghanistan. Over 8,000 cases of COVID-19 have been reported in SAARC countries.