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SAARC Development Fund forays into infra financing with AIIB support

Centre studying proposal to turn SDF into a regional development bank in 2 years

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The multilateral development financing body was set up by SAARC member nations back in 2010 and has implemented 12 developmental projects so far

Subhayan Chakraborty New Delhi
The SAARC Development Fund (SDF) is in advanced-level talks with the Asian Infrastructure Investment Bank (AIIB) for co-financing four cross-border infrastructure projects across the region, a move set to lay the ground for the body becoming a regional development bank in the near future.

In its recent push to engage major international lenders, the SDF has tapped infra financing major AIIB for projects on renewable energy, urban development, climate change, and intra-regional trade, SDF Chief Executive Officer Sunil Motiwal told Business Standard on the sidelines of the SDF Partnership Conclave 2018. 

The two-day meet, which started on Monday, is an