SAARC Development Fund and ADB have signed a pact for co-financing of projects, regional connectivity and development of the SAARC region.

“Asian Development Bank (ADB) and SAARC Development Fund (SDF) have signed an MoU and agreed to collaborate for the development of the SAARC region through co-financing of projects and programmes focusing on regional connectivity /integration and economic cooperation among the SAARC member states”, SDF said in a statement.

They have also agreed to provide technical assistance and investments for co-financing on the three windows of SDF, Micro Small Medium Enterprises (MSME) Program, Social Enterprise Development Programme and any other new areas which can be covered under the pact.