The agreement was signed by Foreign Minister V K Singh, who chaired the Indian side at the 8th trilateral meeting of the IBSA Ministerial Commission in Durban. The Poverty and Hunger Facility for India and Brazil and South Africa is a unique initiative to enhance South-South cooperation for the benefit of the nations of the South. This Fund facilitates the implementation of human development projects to promote the fight against poverty and hunger in developing countries. The IBSA Trust Fund works with a demand-driven approach. Governments seeking assistance from this Fund meet with contact points appointed from among the representatives of IBSA countries around the world. These focal points submit requests for review to the IBSA Board of Directors. If a proposal is positively considered, the United Nations Office for South-South Cooperation of UNDP, fund manager and secretariat of the Executive Board, contacts a potential implementer to advance the formulation of a project and facilitate the implementation of the project. It brings together the three emerging economies of India, Brazil and South Africa to fight poverty in other developing countries. Each country will contribute $1 million per year to this fund, which is managed by the Special Unit for South-South Cooperation of the United Nations Development Programme (UNDP).
Durban, 17 October 2017 – At their meeting in Durban, South Africa, at the 8th India-Brazil-South Africa Tripartite Ministerial Commission (IBSA), the foreign ministers of the three countries signed an agreement renewing and ensuring the continuity of their contribution to the India Poverty and Hunger Facility, in Brazil and South Africa (IBSA Fund), managed by the United Nations Office for South-South Cooperation (UNOS). Each IBSA country has committed to the fund at least $1 million per year in the coming years. Each country contributes up to one million dollars per year to this fund, which is managed by the Special Unit for South-South Cooperation of the United Nations Development Programme (UNDP). Follow the external link for more details www.unsouthsouth.org/partner-with-us/ibsa/ India, Brazil, South Africa sign IBSA Trust Fund Convention The Fund is known for its human-centered results, which have built or renovated 6 hospitals or health centers, 7 markets and an irrigation structure. It has improved the livelihoods of more than 30,000 farmers in different countries and continents, including in very remote areas. and improved the skills and employability of around 6,000 urban youth – among many other achievements that advance the 17 Sustainable Development Goals. . . .