Poverty Current Affairs - 2020
Union Cabinet gives nod to Tripartite Agreement of IBSA Fund for the Alleviation of Poverty and Hunger
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for signing of the Tripartite Agreement on the IBSA Fund for the Alleviation of Poverty and Hunger.
The IBSA fund for the Alleviation of Poverty and Hunger was set up in 2004 by three member countries India, Brazil and South Africa for South-South cooperation.
- The IBSA Fund undertakes development projects in third countries and the first project under it will be financed for the support of agriculture and livestock development.
- Contribution of IBSA countries: Each member country will contribute US$ 1 million annually for the IBSA Fund.
- Till January 2015 the total amount accumulated in the fund was 28.2 million US dollars. So far, India on its part has contributed total 9.1 million US dollars to the Fund.
- The total fund used for implemented or approved projects is around 26.2 million US dollars. Remaining 2.09 million US dollars is available for programming.
- The fund is one of the three pillars of cooperation under the IBSA Dialogue Forum for South-South cooperation. The other two pillars are consultation and coordination on global political issues and trilateral collaboration in concrete areas and projects.
The IBSA Fund was awarded with South-South Partnership Award at the 2006 UN Day in December 2006. The award indicates the importance of the IBSA Fund in the context of South-South developmental cooperation.
The IBSA Dialogue Forum was launched in June 2003. It is an international tripartite grouping for promoting international cooperation among three vibrant democracies and developing countries of the south viz India, Brazil and South Africa that are recognized for having global relevance and impact.
The forum provides these three countries a common platform to engage in discussions for cooperation in the various fields incuding agriculture, trade, culture, and defence among others.
Tags: Brazil • Cabinet Decisions • Current Affairs 2016 • IBSA • India
Every year 17 October is being observed as International Day for the Eradication of Poverty throughout the world.
Significance of Day: The Day seeks to promote awareness among people to eradicate poverty and destitution around the world particularly in developing countries.
2015 Theme: Building a sustainable future: Coming together to end poverty and discrimination.
The theme is a special one as it eradication of poverty is one of the 17 ambitious Sustainable Development Goals adopted in September 2015.
- The International Day for the Eradication of Poverty was observed for first time in 1993.
- It was established after United Nations General Assembly had passed resolution in this regard in 1992.
- This day is observed and promoted to create awareness to eradicate poverty and destitution in all countries.