India has reaffirmed its commitment to global solidarity by contributing USD 1 million to the India, Brazil, and South Africa Facility for Poverty and Hunger Alleviation Fund (IBSA Fund), aimed at addressing poverty and hunger in developing countries.
In a symbolic gesture of partnership and support, India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj, presented the cheque of USD 1 million to the Director of the UN Office for South-South Cooperation (UNOSSC), Dima Al-Khatib, on Monday.
Highlighting India’s dedication to inclusive development during its G20 Presidency, Kamboj emphasized the significance of supporting the IBSA Fund as a beacon of South-South cooperation. She underscored the positive impact of the Fund in enhancing the lives of millions across the Global South.
The IBSA Fund, jointly contributed by India, Brazil, and South Africa, allocates one million dollars annually from each country to finance transformational projects in developing nations. Since its inception in 2004, India’s cumulative contributions to the IBSA Fund have exceeded USD 18 million, demonstrating its unwavering commitment to global poverty alleviation efforts.
Managed by UNOSSC, the IBSA Fund channels resources towards projects fostering food security, combating HIV/AIDS, promoting access to clean water, and advancing sustainable development goals in recipient countries.
To date, the IBSA Fund has allocated USD 50.6 million across 45 projects in 37 countries, serving as a tangible manifestation of solidarity among nations. This year, the Fund has approved initiatives in Belize, South Sudan, and Palestine, amounting to USD 3 million in new funding.
In Belize, the project aims to enhance access to renewable energy in marginalized communities, while initiatives in South Sudan and Palestine focus on improving agriculture, nutrition, and livelihood opportunities for women, youth, and communities.
Moreover, the IBSA Fund remains committed to bolstering resilience against climate change, as demonstrated by the approval of a project in Mali to empower women producers and youth in climate-resilient agriculture.
As India, Brazil, and South Africa continue to champion collaborative efforts in addressing global challenges, the IBSA Fund stands as a testament to the transformative potential of South-South cooperation in building a more equitable and sustainable world.