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).

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 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: 

• • Greater Role at UNSC: significant for India’s greater role at the UN Security Council (UNSC).
  • Shared Security and Political concerns: Terrorism, human trafficking and maritime security, West’s unwillingness to yield space in global governance and the growing  influence of China in their respective neighbourhoods.
  • Common Agenda: Maritime security, freedom of navigation, climate change and energy security.
  • South–South Cooperation: Brazil and South Africa being resource rich, and India being manpower rich can join together to create an effective manufacturing base.

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