international development association
Proper noun: * International Development Association (IDA): An international financial institution that provides concessional loans (credits) and grants to the world's poorest countries. It is a part of the World Bank Group and is affiliated with the United Nations system. Its primary goal is to reduce poverty by providing financing for programs that boost economic growth, reduce inequalities, and improve living conditions.
The term "International Development Association" is used as a proper noun to refer specifically to this institution. It is often abbreviated as IDA. * It functions as the subject or object of a sentence. * It is commonly preceded by the definite article "the" when referring to the specific organization.
- As subject:
- As object:
- With abbreviation:
- IDA Country: A term used to describe a country that is eligible to receive support from the International Development Association based on its low per capita income and lack of creditworthiness for commercial loans.
- Example: The new health initiative will be piloted in several IDA countries in Sub-Saharan Africa.
- IDA: The universal and most common acronym for the International Development Association.
- World Bank Group: The larger group of five institutions to which the IDA belongs. The other core institutions are the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).
- Concessional Finance: A general term for loans or financing offered on terms more generous than market loans, such as lower interest rates or extended grace periods, which is the type of funding the IDA provides.
- Development Fund: A general term for an institution that provides financial resources for development purposes. (Note: This is a broader, less specific synonym.)
- Aid Agency: A general term for an organization that provides international assistance. (Note: This is a much broader term that includes many types of organizations beyond financial institutions.)
- IDA Replenishment: The periodic process where donor governments contribute funds to renew the IDA's resources.
- Example: The success of the latest IDA replenishment will determine the level of support for the next three years.
- Creditworthiness: The ability of a borrower to repay debt, which IDA-eligible countries typically lack for commercial markets.
- Grant Element: The portion of a loan that is effectively a gift, calculated based on how concessional its terms are. IDA credits have a very high grant element.
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an agency of the United Nations affiliated with the World Bank
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