What is IDA?
The International Development Association (IDA) is the part of the World Bank that helps the world’s low-income countries. IDA's grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world.
The International Development Association (IDA) is the part of the World Bank that helps the low-income countries. Established in 1960, IDA complements the World Bank’s original lending arm—the International Bank for Reconstruction and Development (IBRD). IDA's grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world. IDA is one of the largest sources of assistance for the world’s 75 low-income countries 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 30 to 40 years. More than half of IDA countries receive all, or half, of their IDA resources on grant terms, which carry no repayments at all. These grants are targeted to the low-income countries at higher risk of debt distress.
IDA has historically been funded largely by contributions from the governments of its member countries. Donors meet every three years to replenish IDA resources and review its policy framework. The most recent replenishment of IDA’s resources, the twentieth (IDA20), was finalized in December 2021, resulting in a historic $93 billion financing package for IDA countries for fiscal years 2022-2025.
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).
In the fiscal year ending June 30, 2023, IDA commitments totaled $34.2 billion, of which $7.3 billion in grants. Africa region received 75 percent ($25.8 billion) of the total commitments. Since 1960, IDA has provided $533 billion to 115 countries. Annual commitments have increased steadily and averaged about $36 billion over the last three years (FY21-FY23).
Thirty-six countries have graduated, and many have become IDA donors, including China, Chile, India, South Korea, and Turkey.
Last Updated: Apr 10, 2024
About IDA
The World Bank’s International Development Association (IDA), established in 1960, helps the world’s countries by providing grants IDA is one of the largest sources of assistance for the world’s countries, the main aim of this program is to eradicate poverty and make the world a better place for all.
World Bank Group Response to COVID-19
Since the start of the COVID-19 pandemic, the World Bank Group has deployed over $157 billion to fight the health, economic, and social impacts of the pandemic, the fastest and largest crisis response in its history. The financing is helping more than 100 countries strengthen pandemic preparedness, protect the poor and jobs, and jump start a climate-friendly recovery. The Bank is also supporting over 50 low- and middle-income countries, more than half of which are in America, with the purchase and deployment of COVID-19 vaccines, and is making available $20 billion in financing for this purpose until the end of 2024.
Contacts
Agent name: Steven Pullis,
Phone Number: +(330) 269-9920
Email: idagrantdevelopment@gmail.com
This is Free Money that you may be entitled for to help yourself make it through tough economic conditions. You can use government grant money to pay your bills, college, school, medical expenses, business business costs, or even personal use. Back in 2009, the government made available a wide variety of programs in 2024, the government has also allocated $10billions of dollars in government grants and various funding programs. There is absolutely no limit as to the number of grants you can apply for. The truth is, many people aren't even aware that government grants exist !
The government does not knock on your door to offer you free money !
No credit checks required !
No need for co-signers !
You may be eligible even with bad credit or bankruptcy !
You never have to pay back government grant. this program is empowered by the United Nations executives, cooperate individuals and Government. and the main aim of this program is to eradicate poverty and make the world a better place for all. There is absolutely no limit as to the number of grants you can apply for.
The truth is, many people aren't even aware that government grants exist !