Established : 2003
Headquarter : It doesn't have headquarter
The INDIA-BRAZIL-SOUTH AFRICA Dialogue Forum Established in 2003. IBSA is a coordinating mechanism amongst three emerging countries, three multi ethnic and multicultural democracies. The establishment of IBSA was formalised by the Brasilia Declaration of 2003, which mentions India, Brazil and South Africa's democratic credentials. Their status as middle powers, their common need to be addressed.
The IBSA Fund was created in 2004. Each country currently contributes US$1million per year to the Fund. Numerous projects have been completed in sectors such as agriculture, electrification/energy systems and health. The Special Unit for South-South Cooperation (SU/SSC) of the UN Development Programme acts as the Fund Manager and Board of Directors' Secretariat. IBSA projects are executed through partnerships with UN agencies, national institutions, local governments and NGOs.