The International Development Association (IDA) is part of the World Bank that helps the world’s poorest countries. IDA complements the World Bank’s original lending arm, the International Bank for Reconstruction and Development (IBRD). Established in 1960, IDA aims to reduce poverty by providing zero- to low-interest loans (called “credits”) with a repayment period of 30 to 40 years. Around half of the countries receive all or half of their IDA resources on grant terms, which carry no repayments. These grants are intended for low-income countries with a higher debt distress risk. 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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3/29/2024 04:04:00 PM
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3/29/2024 04:04:00 PM
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Development Finance, International Development Association (IDA)
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General
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English
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World
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Conflict and Development,Education,Energy,Gender,Health, Nutrition and Population,Information and Communication Technologies
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The International Development Association (IDA) is part of the World Bank that helps the world’s poorest countries. IDA complements the World Bank’s original lending arm, the International Bank for Reconstruction and Development (IBRD). Established in 1960, IDA aims to reduce poverty by providing zero- to low-interest loans (called “credits”) with a repayment period of 30 to 40 years. Around half of the countries receive all or half of their IDA resources on grant terms, which carry no repayments. These grants are intended for low-income countries with a higher debt distress risk. 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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