The World Bank Group consists of five organizations:
(2) International Development Association -
Together, IBRD and IDA make up the World Bank.
(2) International Development Association -
Together, IBRD and IDA make up the World Bank.
The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries.
IDA aims to reduce poverty by providing interest-free loans — called credits — and grants to governments of the poorest countries for programmes that boost economic growth, reduce inequalities, and improve people’s living conditions.
IDA aims to reduce poverty by providing interest-free loans — called credits — and grants to governments of the poorest countries for programmes that boost economic growth, reduce inequalities, and improve people’s living conditions.
IDA complements the World Bank’s original lending arm—the International Bank for Reconstruction and Development (IBRD). IBRD was established to function as a self-sustaining business and provides loans and advice to middle-income and credit-worthy poor countries. IBRD and IDA share the same staff and headquarters and evaluate projects with the same rigorous standards.
IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa, and is the single largest source of donor funds for basic social services in these countries.
IDA lends money on concessional terms.
This means that IDA credits have a zero or very low interest charge and repayments are stretched over 25 to 40 years, including a 5- to 10-year grace period. IDA also provides grants to countries at risk of debt distress.
In addition to concessional loans and grants, IDA provides significant levels of debt relief through the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).
IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa, and is the single largest source of donor funds for basic social services in these countries.
IDA lends money on concessional terms.
This means that IDA credits have a zero or very low interest charge and repayments are stretched over 25 to 40 years, including a 5- to 10-year grace period. IDA also provides grants to countries at risk of debt distress.
In addition to concessional loans and grants, IDA provides significant levels of debt relief through the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).
