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India proposes poverty alleviation fund

Islamabad Jan. 4. The Prime Minister, Atal Bihari Vajpayee, today proposed the creation of a Poverty Alleviation Fund and offered $100 million as initial contribution for poverty alleviation programmes and projects outside India.

Making the proposal in his address to the 12th SAARC Summit here, Vajpayee said the fund could be professionally managed and could fund specific poverty-alleviation programmes and projects in SAARC. ``Once we have agreed on the modalities of the creation of such a fund and on its charter, India would be willing to make an initial contribution of $100 million to this fund on the understanding that this money would be used entirely on projects within SAARC, but outside India,'' he said. — PTI

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