The United Nations has acknowledged the contribution of the India-Brazil-South Africa (IBSA) grouping in using innovative approaches while setting up development experiences for combating poverty and hunger in other parts of the world through the IBSA Trust Fund, says a release from the Ministry of External Affairs.
The India, Brazil and South Africa Facility for Poverty and Hunger Alleviation (IBSA Fund) received the 2010 Millennium Development Goals (MDG) Award for South-South Cooperation.
The award was received by representatives of the three countries and the Special Unit for South-South Cooperation in the United Nations Development Programme (UNDP) in New York on Sunday.
The three countries contribute $ 1 million annually to the IBSA Fund, which is managed by the UNDP Special Unit for South-South Cooperation. Projects are executed by U.N. agencies and its partners with a strong emphasis on national ownership.
Current IBSA initiatives include projects in Haiti, Guinea Bissau, Cape Verde, Burundi, Palestine, Cambodia and Lao PDR.
