The 16th South Asian Association for Regional Cooperation (SAARC) Summit is scheduled to be held in the Bhutanese capital Thimphu on April 28-29, 2010, a Nepali local media reported on Saturday. According to eKantipur.com, the Maldives, which was supposed to hold the Summit in 2009, expressed inability to organize the event because of poor economic condition. All the eight member states -- Nepal, India, Pakistan, Sri Lanka, Bangladesh, the Maldives, Afghanistan and Bhutan -- have confirmed their participation at the Summit. According to the Kathmandu-based SAARC secretariat, a meeting of SAARC development fund is underway in Colombo, Sri Lanka. Bhutan is hosting the summit for the first time since the regional body was established in 1985. 'It will greatly enhance Bhutan's international image as a sovereign, independent and responsible country,' Bhutanese Prime Minister Lyonchhoen Jigmi Y Thinley said recently. 