Sri Lanka hosts SADF conference in Colombo

NDB bank, Sri Lanka representative of the South Asian Development Fund (SADF) hosted the 9th Governing Board Meeting of the SADF at Trans Asia yesterday.

Following the inaugural session, the Governing Board will conduct close door sessions over two days. Key issues that will be taken up for discussion include the setting up of a permanent secretariat and the preparation of the charter and by-laws for the operations of SADF.

NDB bank's involvement with the SADF is key, as Sri Lanka will be taking over the presidency of the SADF in 2006 and as such the CEO of the NDB bank will become the next Chairman.

"With the Chairmanship coming to Sri Lanka next year, we hope to make a difference by helping Sri Lankans to conduct feasibility studies for various projects.

Sri Lanka have many opportunities with regards to agriculture, fisheries, vegetables and power generation, which are yet to be tapped," Vice President of SME, and SME Development at NDB, A.L Somaratne, said.

Other areas that will be taken up for discussion at the meeting would be the delegation of authority to an executive board which will in turn take decision expeditiously with regard to approvals of project ideas and appointment of consultants and final study.

The inaugural session was attended by Chairman of NDB bank, S.K. Wickremasinghe, CEO of NDB bank Nihal Welikala and Vice President of SME and SME Development at NDB bank, A.L Somaratne.