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India's development fund hailed as model South-South cooperation

6/9/2018

New Delhi, An India-United Nations fund aimed at supporting sustainable development in low-income nations has come in for praise at the United Nations.as a model of deepening South-South cooperation. “India is, for all of us, a very important inspiration,” Guterres said at an event marking the first anniversary of the India-UN Development Partnership Fund on Friday. Guterres said that even before the SGDs were crystallised, “India’s own development efforts and vision reflected many of the same priorities and aspirations.” Managed by the UN Office for South-South Cooperation, the Fund seeks to assist projects for the implementation of the Sustainable Development Goals (SDGs) in partner countries. The 22 projects approved by the Fund so far in 25 partner countries include a climate early-warning system being implemented in seven Pacific island countries, and governance projects in eSwatini, formerly known as Swaziland, and Uruguay. South-South cooperation in the UN context refers to the exchange of resources,technology, and knowledge between developing countries. India has committed $100 million to the Fund over the next decade and an additional $50 million during the next five years for Commonwealth countries under a separate window under the fund. Syed Akbaruddin, India’s Permanent Representative, said, "We are also open to leveraging of this Fund by UN agencies and national authorities to attract additional funding. "We hope that in the coming months and years, we will be able to further expand the portfolio of projects and partners through this Fund." India is also engaged in another unique model of South-South cooperation at the UN through the India-Brazil-South Africa Fund, popularly known as IBSA Fund. These Funds are in addition to the other extensive development partnership initiatives being pursued by the Indian government with fellow developing countries in Africa, Pacific Island States, and Caribbean through other multilateral formats. The UN chief stressed, however, that South-South cooperation should not be seen as an instrument to replace North-South cooperation, between developed and developing nations. “South-South cooperation must be a stimulus for an intensified North-South cooperation,” he said.

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