India Contributes an Additional One Million USD to the IBSA Fund

02 August, New York – The Republic of India contributed $1 million to the India, Brazil and South Africa Facility for Poverty and Hunger Alleviation Fund (IBSA Fund) today. The Fund supports sustainable development projects for the benefit of other developing countries.

India, Brazil and South Africa, each contribute $1 million annually to the IBSA Fund in a spirit of partnership and support for Southern-led, demand-driven, transformational projects in developing countries. The United Nations Office for South-South Cooperation (UNOSSC) serves as IBSA Fund manager and Board of Directors secretariat. UNOSSC also facilitates the Fund supported, country-led projects, which are implemented by various United Nations agencies.

India’s contributions the IBSA Fund have cumulatively exceeded $12 million, since the Fund was established in 2004 and became operational in 2006. These contributions are in addition to the support India provides to other United Nations funds, including the recently established India-UN Development Partnership Fund (also managed by UNOSSC), the Democracy Fund, and core contributions to United Nations agencies, funds and programmes. For example, in 2016, India contributed $4.3 million to United Nations Development Programme (UNDP) core resources, rendering it the biggest contributor among UNDP programme countries. India is also the United Nations second largest police and troop contributing country.

The IBSA Fund, supports projects that are concrete expressions of solidarity. Their objectives range from promoting food security, to addressing HIV/AIDS, to extending access to safe drinking water – all with the aim of contributing to the achievement of the Sustainable Development Goals.

This year, IBSA has approved initiatives on providing equipment to mitigate floods and drought among farmers in Bolivia, enhancing the coconut sector in Kiribati, and supporting soya bean production and processing in Zambia. Governments, United Nations officials, academics, and development practitioners have praised IBSA Fund activities and the Fund’s Southern-led approaches.