India's contribution to the Global South: USD 1.million commitment to IBSA's Poverty and Hunger Alleviation Fund
| 2024-02-21
India handed over a contribution of USD 1 million to the IBSA Fund on February 19, 2024.
India reiterates its commitment to support the IBSA Fund
India has made a significant contribution of USD 1 million to the Poverty and Hunger Alleviation Fund, a collaborative initiative established by India, Brazil, and India, Brazil, and South Africa (IBSA). This strategic move exemplifies India's ongoing commitment to fostering development and collaboration among the nations of the Global South.
The cheque was handed over by India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj, to the Director of the UN Office for South-South Cooperation (UNOSSC), Dima Al-Khatib, on Monday (February 19, 2024).
The IBSA Facility for Poverty and Hunger Alleviation, operational since 2006, represents a pioneering effort in South-South cooperation, aiming to combat poverty and hunger by identifying and implementing scalable and replicable projects in developing countries. These initiatives are designed to align with the recipient countries' national priorities as well as internationally agreed development goals, making a tangible difference in the lives of millions across the Global South.
Ambassador Kamboj emphasized the impact of the IBSA Fund, highlighting its role in not only alleviating poverty and hunger but also in strengthening the spirit of cooperation among developing nations.
“India is committed to support the IBSA Fund as we believe that the Fund has made a positive impact on the lives of millions across the global South and has strengthened the spirit of South-South cooperation," she said.
The IBSA Fund's approach to development is demand-driven, allowing partner countries to propose projects that align with their specific needs and goals. This ensures that the initiatives supported by the fund have a direct impact on improving the lives of those most in need.
According to the Permanent Mission of India to the UN, India, Brazil and South Africa each contribute USD 1 million annually to the IBSA Fund in a spirit of partnership and support for Southern-led, demand-driven, transformational projects in developing countries. India’s contribution to the IBSA Fund has cumulatively exceeded USD 18 million since the Fund was established in 2004 and became operational in 2006. UNOSSC serves as the Fund Manager and Secretariat of the IBSA Fund.
Till date, the IBSA Fund has allocated US$ 50.6 million supporting 45 projects across 37 countries of the global South. This year, IBSA Fund has already approved three projects, namely, ‘rural electrification using microgrids’ in Belize, ‘empowering women and youth to drive sustainable agriculture’ in South Sudan and ‘investment in agri-business development / Mubadrti’ in Palestine.
Projects like the promotion of local salt production in Benin, supported by the IBSA Fund, serve as a representation to the fund's commitment to enhancing livelihoods and empowering communities, particularly women, through sustainable development practices.
India's recent contribution to the IBSA Fund furthers its role in the international cooperation sector and its embodiment as a key player in the efforts to address global challenges of poverty and hunger. By supporting the IBSA Fund, India reinforces the importance of South-South cooperation as a means to achieve sustainable development and a more equitable world.
The cheque was handed over by India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj, to the Director of the UN Office for South-South Cooperation (UNOSSC), Dima Al-Khatib, on Monday (February 19, 2024).
The IBSA Facility for Poverty and Hunger Alleviation, operational since 2006, represents a pioneering effort in South-South cooperation, aiming to combat poverty and hunger by identifying and implementing scalable and replicable projects in developing countries. These initiatives are designed to align with the recipient countries' national priorities as well as internationally agreed development goals, making a tangible difference in the lives of millions across the Global South.
Ambassador Kamboj emphasized the impact of the IBSA Fund, highlighting its role in not only alleviating poverty and hunger but also in strengthening the spirit of cooperation among developing nations.
“India is committed to support the IBSA Fund as we believe that the Fund has made a positive impact on the lives of millions across the global South and has strengthened the spirit of South-South cooperation," she said.
The IBSA Fund's approach to development is demand-driven, allowing partner countries to propose projects that align with their specific needs and goals. This ensures that the initiatives supported by the fund have a direct impact on improving the lives of those most in need.
According to the Permanent Mission of India to the UN, India, Brazil and South Africa each contribute USD 1 million annually to the IBSA Fund in a spirit of partnership and support for Southern-led, demand-driven, transformational projects in developing countries. India’s contribution to the IBSA Fund has cumulatively exceeded USD 18 million since the Fund was established in 2004 and became operational in 2006. UNOSSC serves as the Fund Manager and Secretariat of the IBSA Fund.
Till date, the IBSA Fund has allocated US$ 50.6 million supporting 45 projects across 37 countries of the global South. This year, IBSA Fund has already approved three projects, namely, ‘rural electrification using microgrids’ in Belize, ‘empowering women and youth to drive sustainable agriculture’ in South Sudan and ‘investment in agri-business development / Mubadrti’ in Palestine.
Projects like the promotion of local salt production in Benin, supported by the IBSA Fund, serve as a representation to the fund's commitment to enhancing livelihoods and empowering communities, particularly women, through sustainable development practices.
India's recent contribution to the IBSA Fund furthers its role in the international cooperation sector and its embodiment as a key player in the efforts to address global challenges of poverty and hunger. By supporting the IBSA Fund, India reinforces the importance of South-South cooperation as a means to achieve sustainable development and a more equitable world.
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