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The National Assembly deliberates on the Charter of the SAARC Development Fund (SDF) Amendment 2020.

Posted on :03 February 2020

The House today deliberated on the Charter of the SAARC Development Fund (SDF) Amendment 2020.The Agreement was introduced to the House by the Minister for Finance and a brief background on the Amendment was also presented. 

The amendment pertains to Article 5, Section 2 which stated that the Resources and facilities may be utilized for funding: “(ii) projects involving more than two but not all SAARC Member States” which is now proposed to be amendended as “(ii) projects involving any one or more than one member states with the direct benefit going to more than one member state”.  To fund regional projects, the SDF Charter required involvement of more than two Member States which the SDF experienced the difficulty to find projects fulfilling interests of more than two Member States. Therefore,  with the proposed Amendment the possibility  of  more projects being approved and implemented is improved. 

The Chairperson of the Human Rights and Foreign Relations Committee entrusted with reviewing the proposed amendment, Hon’ble Jurmi Wangchuk, Member from Drukjeygang-Tseza constituency submitted that after consulting with relevant agencies, the Committee decided to support the proposed amendment. The House  also supported the proposed amendment by majority show of hands.

The Charter of the SAARC Development Fund (SDF) Amendment 2020 will be put to vote tomorrow.

 

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