Sri Lanka ratifies South Asian development fund

Feb 13, 2009 (LBO) – Sri Lanka has ratified a proposal to set up a South Asian development fund mooted at a summit of regional leaders last year, a senior government minister said. Sri Lanka will make a contribution of 3,563.6 million rupees for the fund of which 500 million would be paid this year, he said. Sri Lanka's cabinet of ministers has approved the charter for setting up a South Asian Association for Regional Co-operation (SAARC) Development Fund, at a meeting this week, information minister Anura Yapa said.