IBSA FUND

1. The IBSA facility for poverty and hunger alleviation (IBSA Fund) was established jointly by India, Brazil and South Africa in March 2004 and became operational in 2006 to identify replicable and scalable projects that can be disseminated to developing countries on a demand driven basis as examples of best practices in combating poverty and hunger. 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.

2. Since its inception, the IBSA Fund has disbursed over US$44 million, supporting 35 development projects in 31 countries. As of 2020, a total of 8 projects were ongoing; 24 projects have been completed; and 4 projects are under preparation for implementation

3. India has been a regular contributor to the IBSA fund since its inception and has contributed US$ 15.1 million till date. In effect, the informal understanding thus far has been that the partner countries sponsor projects corresponding to the proportion of their contribution to the fund. The fund has an appeal for small states who seek funding for small and medium sized project and it has proved to be a useful outreach tool with states which we are not able to assist through bilateral development projects.