Bharat has pledged $1 million to IBSA fund created by the Asian Giant along with Brazil, and South Africa to undertake initiatives aimed at alleviating poverty and hunger.
Ambassador Ruchira Kamboj, Bharat’s Permanent Representative to the UN, presented a check of $1 million as a contribution to the India, Brazil, and South Africa Facility for Poverty and Hunger Alleviation Fund or IBSA Fund to Dima Al-Khatib, Director of the UN Office for South-South Cooperation or UNOSSC on Monday.
During the presentation, Kamboj accentuated Bharat’s G20 Presidency focuses on “development of the people, by the people and for the people,” underscoring the nation’s commitment to supporting the IBSA Fund and its positive impact on millions across the Global South through South-South cooperation.
Each year, Bharat, Brazil, and South Africa contribute one million dollars to the Fund, supporting Southern-led, demand-driven projects in developing countries. Bharat’s contribution has surpassed $18 million since the Fund’s inception in 2004, with UNOSSC serving as its Fund Manager and Secretariat.
The IBSA Fund backs projects promoting food security, addressing HIV/AIDS, and expanding access to safe drinking water, aligning with the Sustainable Development Goals. It has allocated $50.6 million to date, supporting 45 projects across 37 countries.
Recent approvals include projects in Belize, Palestine, and South Sudan, focusing on rural electrification, empowering women and youth in agriculture, and enhancing agricultural productivity and resilience to climate change. Additionally, plans are underway for a project in Mali to commence in 2024, aiming to strengthen the resilience of women producers and youth against climate change effects.
