International Development Association
From Wikipedia, the free encyclopedia
The International Development Association (IDA) created on September 24, 1960, is a UN specialized agency. It is responsible for providing long-term interest-free loans to the poorest of developing countries on terms more lenient than those of the World Bank proper, and forms part of the World Bank Group based in Washington, D.C.
The International Development Association (IDA) provides grants and "soft loans", with repayment periods of some 30 years and no interest, to the poorest countries (generally with per capita incomes below $500 per year). IDA concessionary lending is funded by direct contributions from member states, which subsidise the difference between the IBRD's costs and the price charged to IDA borrowers.
Criticisms include the improper use of financial resources as well as its structure of voting power, based on financial contributions (the largest being from the USA).
[edit] External link
 |
This international organization-related article is a stub. You can help Wikipedia by expanding it. |
