India, Brazil and South Africa signed the IBSA Trust Fund Agreement that seeks to fight poverty in developing countries. The agreement was signed by Minister of State for External Affairs V K Singh who led the Indian side at the 8th IBSA trilateral Ministerial Commission Meeting in Durban.
Meeting was also attended by Brazils Foreign Minister Aloysio Nunes Ferreira and South African Foreign Minister Maite Emily Nkoana-Mashabane.
The IBSA Trust Fund brings together the three emerging economies of India, Brazil and South Africa to combat poverty in other developing countries. Each country contributes USD 1 million annually to this fund which is managed by the UN Development Programmes (UNDP) Special Unit for South-South Cooperation.