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India Contributes $1 Mn to IBSA Fund to Alleviate Poverty and Hunger

India Contributes $1 Mn to IBSA Fund to Alleviate Poverty and Hunger

Context:

This article is based on the news “India contributes 1 million US Dollars to Poverty and Hunger Alleviation Fund which was published in the All India Radio. India participates in the 3rd IBSA Sherpas and Sous-Sherpas Meeting.

  • India has contributed 1 million US Dollars to the Poverty and Hunger Alleviation Fund established by India-Brazil-South Africa (IBSA).
Relevancy for Prelims: INDIA-BRAZIL-SOUTH AFRICA (IBSA), BRICS, Virtual BRICS-Plus Summit, and United Nations

Relevancy for Mains: IBSA (India-Brazil-South Africa) and IBSA Fund: Significance, Challenges, and Way Forward.

About IBSA (India-Brazil-South Africa) and IBSA Fund

  • Brasilia Declaration: signed in 2003  by the Foreign Ministers of the three countries in Brasilia (Brazil)

IBSA Fund

Sherpa: 

  • A Sherpa is a personal representative of the leader of a member country at an international Summit meeting such as the G8, IBSA, G20 or the Nuclear Security Summit.
  • The term is derived from the Nepalese Sherpa people, who serve as guides for mountaineers in the Himalayas.
    • IBSA was formalised  and named the IBSA Dialogue Forum.
  • Members: Trilateral developmental forum of India, Brazil and South Africa.
  • Objectives: 
    • Construction of a new international architecture
    • Voice together on global issues.
    • Open itself to cooperation and partnership with less developed countries.
  • Principles: Participatory democracy, Respect for human rights and the Rule of Law.
  • Headquarters: Open and flexible structure.
    • No headquarters or a permanent executive secretariat.
  • Contribution: Each IBSA member country is required to contribute $1 million per annum to the fund.
  • IBSAMAR (IBSA Maritime Exercise): Joint Naval Exercise.
    • IBSAMAR VII was conducted on 2022.
  • IBSA Fund: established in March 2004, operational in 2006.
    • IBSA Fund managed by the United Nations (UN) Office for South-South Cooperation (UNOSSC). 
    • Purpose: is to identify replicable and scalable projects that can be disseminated to developing countries on a demand-driven basis.
    • Awards: UN South-South Partnership award 2006, UN MDG (Millenium Development Goals) award 2010, and the South-South and Triangular Cooperation Champions award in 2012.
  • IBSA Fellowship Programme: Instituted with the support of the Ministry of External Affairs, Government of India.
    • promote academic exchange of young scholars.
    • strengthen research collaboration for South-South Cooperation.
  • India and IBSA: 

    • India was the IBSA Chair under the theme “Democracy for Demography and Development” in 2021. 
    • 6th IBSA Summit hosted by India in 2022.
    • Brazil assumed the rotating presidency of IBSA on March 2, 2023.
  • Importance of IBSA: 

IBSA Vs BRICS (Brazil, Russia, India, China,South Africa)

  • Stage of Development: IBSA members share a comparable stage of development, reducing competitive interests and facilitating collaboration on mutually beneficial projects.
  • Lack of Geo-political Conflicts: Unlike BRICS, IBSA lacks geo-political or territorial conflicts.
  • Equal Power Equation: In contrast to China’s dominance in BRICS, IBSA members have an equal power equation
  • Challenges within BRICS: The presence of Russia and China as permanent UNSC members and members of the Shanghai  Cooperation Organisation (SCO) affects the decision-making dynamics.

 

Also Read: World Government Summit 2024

 

Mains Question: Establish the relationship between land reform, agriculture productivity and elimination of Poverty. (10 marks, 150 words)

 

Must Read
NCERT Notes For UPSC UPSC Daily Current Affairs
UPSC Blogs UPSC Daily Editorials
Daily Current Affairs Quiz Daily Main Answer Writing
UPSC Mains Previous Year Papers UPSC Test Series 2024

 

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Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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