The International Development Association (IDA), a part of the World Bank, plays a pivotal role in assisting low-income countries. It complements the World Bank’s original lending arm, the International Bank for Reconstruction and Development (IBRD), which supports middle-income countries. Established in 1960, IDA aims to reduce poverty by providing grants and low-interest loans, also known as “credits.” Approximately half of the countries get all or most of their resources on grant terms, which do not require repayment. These grants are intended for low-income countries at a higher risk of debt distress and other vulnerabilities. IDA supports a range of development activities that provide the necessary resources for the world’s poorest countries to fight poverty, boost economic growth, and improve living conditions for millions of people on a livable planet. IDA is one of the largest sources of assistance for the world’s 75 poorest countries and is the largest source of essential social services in these countries. IDA helps countries on a sustainable path toward funding their own development. Thirty-six countries have graduated from IDA, including China, India, Indonesia, South Korea, and Turkey. Many have returned to IDA as donors, and they include some of the world’s most dynamic economies. When recipient countries graduate and later return as donors, it marks an important milestone for IDA, international development, and the fight against poverty. The journey of these countries is a testament to the effectiveness of IDA’s approach.
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Everything You Need to Know About International Development Association (IDA)
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5/3/2024 09:33:00 AM
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5/3/2024 09:33:00 AM
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Development Finance
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General
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English
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World
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Finance and Financial Sector Development
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The International Development Association (IDA), a part of the World Bank, plays a pivotal role in assisting low-income countries. It complements the World Bank’s original lending arm, the International Bank for Reconstruction and Development (IBRD), which supports middle-income countries. Established in 1960, IDA aims to reduce poverty by providing grants and low-interest loans, also known as “credits.” Approximately half of the countries get all or most of their resources on grant terms, which do not require repayment. These grants are intended for low-income countries at a higher risk of debt distress and other vulnerabilities. IDA supports a range of development activities that provide the necessary resources for the world’s poorest countries to fight poverty, boost economic growth, and improve living conditions for millions of people on a livable planet. IDA is one of the largest sources of assistance for the world’s 75 poorest countries and is the largest source of essential social services in these countries. IDA helps countries on a sustainable path toward funding their own development. Thirty-six countries have graduated from IDA, including China, India, Indonesia, South Korea, and Turkey. Many have returned to IDA as donors, and they include some of the world’s most dynamic economies. When recipient countries graduate and later return as donors, it marks an important milestone for IDA, international development, and the fight against poverty. The journey of these countries is a testament to the effectiveness of IDA’s approach.
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