International Development Association (IDA)
From Dickinson College Wiki
The International Development Association (IDA) was founded in 1960 and its purpose is to provide "interest-free (credits) and grants to the poorest developing countries in order to boost their economic growth and improve people’s living conditions."
The IDA is finanaced through contributions made by its wealthier member countries and through the repayment of outstanding credits. Since it's founding, credits and grants provided by the IDA have totaled $170 billion.
There are three factors that determine whether or not countries are eligible for IDA assistance (as stated directly from the source):
- Relative poverty, defined as Gross National Product (income) per person below an established threshold, currently US$1,025 per year.
- Lack of creditworthiness to borrow on market terms and therefore a need for concessional resources to finance the country's development program.
- Good policy performance, defined as the implementation of economic and social policies that promote growth and poverty reduction.
172.16.78.244 10:41, 30 Nov 2006 (EST)
