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.
"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.