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Modi calls for SAARC emergency fund

Narendra Modi

Narendra Modi  

Extends $10 mn as India’s contribution

The South Asian Association for Regional Cooperation (SAARC) should create a fund to fight the threat of COVID-19, Prime Minister Narendra Modi announced on Sunday.

Addressing the first-ever videoconference of the heads of member countries, he extended $10 million as India’s contribution to the fund. “We all agree that we are facing a serious challenge. We do not as yet know what shape the pandemic will take in the coming days. It is clear that we have to work together. In this spirit of collaboration, let me share a few ideas on what India can offer to this joint effort. I propose we create a COVID19 Emergency Fund which could be based on voluntary contribution from all of us. India can start with an initial offer of 10 million U.S. dollars for this fund,” he said.

He said that India’s Foreign Secretary Harsh Vardhan Shringla and his counterparts from other member countries should meet and decide on the plan for the creation of the fund.

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