The World Bank and the South Asian Association for Regional Cooperation announced last week a new partnership to address the two-pronged issue of poverty and inclusive development by boosting social entrepreneurship in the region.
The Social Enterprise Development Program, administered through the SAARC Development Fund, aims to support and fund notable social enterprises in South Asia. It is an “attempt to address [the] objectives of regional integration and poverty reduction,” Karma, SDF’s chief executive, told Devex.
“The [SEDP] is expected to provide technical capacity to the social entrepreneurs of South Asia and also encourage them to invest [in] each other and across the regional geographies,” he said, adding that the focus on social entrepreneurship is a natural progression after prioritizing more than $63 million of various social projects in the region.
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
