For the past ten years, policy makers involved in the IBSA process frequently and proudly point to the IBSA Fund’s great success. Yet what exactly is the IBSA Fund? More importantly, does it matter? The IBSA Facility Fund for Alleviation of Poverty and Hunger was created in 2004 and became operational in 2006. Countries decided to contribute an annual amount of US $ 1 million. According to the IBSA governments, the Trust Fund operates through a demand-driven approach. Governments of developing countries requesting support by this fund initiate discussions with focal points appointed among IBSA countries’ officers around the world. These focal points then submit proposals to the IBSA board of directors for review. If a proposal receives a favorable review, UNDP’s Special Unit for South-South Cooperation, which acts as the Fund’s manager and board of directors’ secretariat, initiates contact with a potential executing agency to advance a project formulation, and to facilitate the project’s implementation.
Available at: http://www.postwesternworld.com/2014/01/27/south-cooperation-matter/