IBSA fund for alleviation of Poverty and Hunger
Q. Union government gave a nod to tripartite agreement for a fund for the Alleviation of Poverty and Hunger. Which of the following nations are part of agreement?
1. Russia
2. UK
3. Brazil
4. USA
5. South Africa- Published on 21 Nov 15a. 2 and 4
b. 2 and 3
c. 3 and 4
d. 3 and 5
ANSWER: 3 and 5
- The union cabinet approved the signing of the tripartite agreement among India, Brazil and South Africa (IBSA) on the IBSA Fund for the Alleviation of Poverty and Hunger.
- The decision will help in strengthening the IBSA Fund which is a unique vehicle in the context of South-South cooperation
- The IBSA countries contribute $1 million each annually to the fund, which till January 2015 has accumulated to $28.2 million, with total implemented/approved projects commitment of $26.2 million, and remaining $2.09 million available for programming.
- India on its part has contributed $9.1 million so far to the Fund.
- The IBSA Fund undertakes development projects in third countries.
- The first project to be financed by the IBSA Fund was in support of agriculture and livestock development.
- The IBSA Fund was conferred the South-South Partnership Award at the 2006 UN Day event held in New York in December 2006.
- The IBSA Fund for the Alleviation of Poverty and Hunger was set up in 2004 as one of the three pillars of cooperation under the IBSA Dialogue Forum.
- The other two pillars are consultation and coordination on global political issues and trilateral collaboration in concrete areas and projects.
