3.1.6. IBSA Fund

♤ An innovative work of IBSA is the establishment of IBSA Facility Fund for Alleviation of Poverty and Hunger through which development projects are executed with IBSA funding in fellow developing countries. An annual amount of US $ 1 million is contributed by each IBSA member country. IBSA Fund received the 2010 MDG Award for South-South cooperation on 17 September 2010 in New York recognizing the work of the three countries in using innovative approaches to share development experiences in other parts of the world.