India has donated $1 million to the India-Brazil-South Africa (IBSA) Facility for Poverty and Hunger Alleviation Fund, which finances projects to reduce poverty and food insecurity in developing countries.
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Indian Ambassador to the UN Ruchira Kamboj presented the contribution to the Director of the UN Office for South-South Cooperation (UNOSSC), Dima Al-Khatib, on Monday. Ambassador Kamboj stated that India’s G20 Presidency is focused on the “development of the people, by the people and for the people,” so India is committed to supporting the IBSA Fund as it has positively impacted millions across the Global South.
The IBSA Fund was created in 2004 by India, Brazil and South Africa, with each country contributing $1 million per year to finance Southern-led projects that align with the Sustainable Development Goals. To date, India has donated over $18 million. UNOSSC serves as the IBSA Fund’s manager and secretariat.
The Fund has allocated $50.6 million to support 45 development projects across 37 developing countries. This year, it has approved three Belize, South Sudan and Palestine projects worth $3 million. These projects aim to increase access to renewable energy, improve nutrition and food security, and create sustainable jobs in agriculture.
Specifically, the project in Belize will provide solar equipment to 166 households, a school, and a health centre that lacks electricity. The project in South Sudan will support vegetable and fish producer groups to enhance production and market access. The project in Palestine will enable 70 farmers and youth to increase productivity and participate in agri-business value chains through investments and training programs.
Additionally, the Board endorsed a detailed design for a 2024 project in Mali focused on strengthening the climate resilience and economic empowerment of over 7,000 women farmers and youth producers. This will involve renovating agribusiness centres, providing solar irrigation systems, improved seeds, and business training.
Through sustainable projects that improve living standards, the IBSA Fund exemplifies impact-driven South-South cooperation. India’s latest contribution underscores its commitment to uplifting marginalized communities worldwide.
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