IBSA Facility for Alleviation of Poverty and Hunger, in short IBSA Fund, is one of the three pillars of cooperation under the IBSA Dialogue Forum.
At their meeting on the sidelines of the 58th Session of the UNGA on 24 September 2003, IBSA leaders noted that in the absence of renewed and bold efforts to promote and finance the implementation of strategies to combat poverty and hunger, the international community would be far short of achieving the Millennium Development Goals by 2015. It was in this context that they decided to establish a Fund within the UNDP for implementation of projects for poverty reduction and hunger alleviation as well as improved access to education, health and sanitation in the interested developing countries as concrete examples to advance the Millennium Development Goals. The Fund is administered by the UNDP Special Unit for South-South Cooperation and governed by a Board of Directors comprising of Permanent/Deputy Permanent Representatives of the three IBSA countries in New York.
The IBSA Foreign Ministers, at the 2nd standalone meeting in Cape Town in March 2005, agreed that each member country would contribute an amount of US$ 1 million annually to the IBSA Fund.
Several projects have been implemented under IBSA Fund mechanism. They span in countries like Haiti, Guinea Bissau, Cape Verde, Burundi, Palestine, Cambodia, Lao PDR, Vietnam, Timor-Leste and Sierra Leone. Details may be seen here.
IBSA Fund was conferred the South-South Partnership Award at the 2006 UN Day event held in New York on 19 December 2006 for its projects in Haiti and Guinea Bissau. It also received the MDG Award for South-South cooperation in September 2010 and South-South Champions Award in 2012. These awards are an indication of the importance and recognition of IBSA Trust Fund in the context of South-South developmental cooperation.
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