The existing SAARC Development Fund could be merged into the bank.
The highlights of the Declaration adopted at the 14th SAARC Summit.
Finance Ministers of the eight-nation regional bloc South Asian Association for Regional Cooperation in their second meeting here agreed to expedite early operationalisation of the Saarc Development Fund.
The Union Cabinet today approved the release of an additional instalment of Dearness Allowance at 6 per cent to central government employees and dearness relief to pensioners. The allowance will be released with effect from January 1, 2008. The DA rate now stands at 47 per cent.
In a phased and planned manner the countries will go for Free Trade Areas, a Customs Union, a Common Market, and a Common Economic and Monetary Union.
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