IBSA Fund : India Contribution
India has contributed USD 1 million to a fund established by India, Brazil and South Africa.
- IBSA Fund was established in 2004 and became operational in 2006.
- The IBSA countries – India, Brazil and South Africa – each contribute one million dollars annually to the Fund in a spirit of partnership and support for Southern-led, demand-driven, transformational projects in developing countries.
- The purpose of the fund is to identify replicable and scalable projects that can be disseminated to developing countries on a demand-driven basis.
- IBSA Fund-supported projects help partner countries in the Global South to achieve their national priorities, as well as all other internationally agreed development goals.
- It includes promoting food security, addressing HIV/AIDS, and extending access to safe drinking water all to contribute to the achievement of the Sustainable Development Goals, the release said.
IBSA:
- It is a unique Forum which brings together India, Brazil and South Africa, three large democracies and major economies from three different continents, facing similar challenges.
- The grouping was formalised and named the IBSA Dialogue Forum when the Foreign Ministers of the three countries met in Brasilia on 6 June 2003 and issued the Brasilia Declaration
