In July 2012, three Parties to the UNESCO Convention on the Protection and Promotion of the Diversity of Cultural Expressions contributed to the International Fund for Cultural Diversity (IFCD). This includes the first contribution from Serbia (US$1,863.36) and Switzerland (US$103,509.32). Mexico is on its fourth payment (US$71,208.00).
The International Fund for Cultural Diversity is a voluntary multidonor fund that seeks to promote sustainable development cooperation and reduce poverty to help foster a vibrant culture industry in developing countries. IFCD resources come from voluntary contributions from Parties and other states, regional and international organizations, public and private bodies, and individuals. The Conference of Parties recommended that Parties make annual contributions to IFCD of at least 1% of their countries’ contributions to the UNESCO budget.
As of July 25, 2012, a total of US$5,579,173.29 had been collected in the Fund.