IBSA approves USD 2.3mn projects for Bolivia, Kiribati, Zambia

A poverty and hunger alleviating fund by India, Brazil and South Africa has approved three projects in Bolivia, Kiribati and Zambia totalling about USD 2.3 million.

The projects include an initiative enhancing food security in Bolivia through the acquisition of machinery and drilling equipment to be managed by livestock associations affected by floods and droughts in the regions of Beni and Pando.

Another is a proposal for Kiribati aimed at enhancing inclusive sustainable economic development through the coconut sector, which has strong capacity-building elements among coconut farmers, extension workers/trainers and interested youth.

The third initiative to be approved under the fund is in Zambia that will develop rural livelihoods among small-scale farmers through improved production and processing of soya bean crops and products.

The Board of Directors of the India, Brazil and South Africa Facility for Poverty and Hunger Alleviation (IBSA Fund) approved the three projects which represent a budget of about USD 2.3 million.

"As current IBSA Fund Chair, I am very pleased about today s approval and the continuous commitment of IBSA to support developmental activities through South-South cooperation with partner countries," Deputy Permanent Representative of South Africa to the UN Ephraim Leshala Mminele said in a statement here.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)