Six Member Countries of SASEC releases its Operational Plan 2016-2025
The Dollar Business Bureau The six member countries of the South Asia Sub-regional Economic Cooperation (SASEC) program—Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka— released this week, the SASEC Operational Plan (OP) 2016-2025. The SASEC OP is the program’s first comprehensive long-term plan to promote greater economic cooperation among the member countries. Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation. The Asian Development Bank (ADB) is the secretariat and lead financier of the SASEC program. To date, ADB has approved 40 SASEC projects worth almost $7.7 billion in transport, energy, trade facilitation, and information and communications technology. The SASEC OP brings regional cooperation to ...
India signs loan pact with a leading Bank to improve NE region roads
The Dollar Business Bureau The Government of India (GoI), on Thursday, entered into a loan agreement with the Asia Development Bank (ADB) for improving domestic and regional trade along the North Bengal (NB)-North Eastern (NE) Region. The loan, being the first move under a $500 million multi-tranche South Asian Sub-regional Economic Cooperation (SASEC) Road Connectivity Investment Program, aims at constructing roads covering 500 kms along the NB-NE region. Speaking on the occasion, Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Ministry of Finance, GoI, said, that ‘besides the road connectivity, the project will also improve the efficiency of international trade corridors by expanding roads in the region.’ The investment on the ‘last mile’ connectivity will also help in achieving the ...
