1. IBSA Fund clears three projects worth $2.3 mn

IBSA Fund clears three projects worth $2.3 mn

In an effort to support developmental activities through south-south cooperation with partner countries, the board of directors of India, Brazil and South Africa Facility for Poverty and Hunger Alleviation (IBSA Fund) recently approved three projects at a budget of $2.3 million.

By: | New Delhi | Published: August 1, 2017 3:49 AM
IBSA Fund, India, BRAZIL, IBSA Board of Directors, NEW YORK According to the official, “It is estimated that 15% of disaster-affected livestock producers at Beni and Pando in Bolivia will benefit from usage of this machinery, mitigating the impact of future droughts in the area.”

In an effort to support developmental activities through south-south cooperation with partner countries, the board of directors of India, Brazil and South Africa Facility for Poverty and Hunger Alleviation (IBSA Fund) recently approved three projects at a budget of $2.3 million. The projects are located in Bolivia, Kiribati and Zambia. So far, the IBSA Fund has financed $2.58 million for 31 projects in 19 countries.The project-machinery and drilling equipment for livestock associations affected by the 2014 floods and 2016 drought – is expected to enhance food security in Bolivia.

A senior UN officer told FE that, “This project that has been approved by the IBSA grouping seeks to provide agricultural machinery and drilling equipment to Livestock Associations affected by the 2014 floods and 2016 drought in Beni and Pando region of Bolivia.” “The association will use tractor and machinery to drill water wells on farmers’ land, utilizing a partial cost-recovery model that would provide for repairs, maintenance and management by the association in Bolivia,” he added.

According to the official, “It is estimated that 15% of disaster-affected livestock producers at Beni and Pando in Bolivia will benefit from usage of this machinery, mitigating the impact of future droughts in the area.”In UN lingo, the project would alleviate poverty and hunger through the introduction of equipment to improve water management in rural areas affected by drought and floods. It enhances climate resilience and improves food security.

The demands for the projects are initiated at the request of the governments through discussion with IBSA representatives around the world. The proposals are then submitted to IBSA focal points (Brasilia, Pretoria, New Delhi) for approval. Thereafter, these requests are considered and examined and are then approved and sent to the IBSA Board of Directors based in New York.

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