International Development Association
- International Development Association
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International Development Association (IDA)
USA
Set up in 1960, the International Development Association (IDA) is one of two institutions that make up the World Bank and one of five institutions that make up the World Bank Group. The IDA aims to reduce poverty by providing grants and loans (known as credits) on concessionary terms (meaning, interest free with long repayment periods) for projects located in countries that do not meet the International Bank for Reconstruction and Development's credit requirements to:
• Boost economic growth.
• Reduce inequalities.
• Improve people's living conditions.
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Practical Law Dictionary. Glossary of UK, US and international legal terms.
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2010.
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