International Development Association (IDA)


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.

IDA was set up in September 1960, as a subsidiary of the World Bank. The establishment of IDA was another step in the direction of increasing international liquidity in the world. The IDA was set up particularly to provide finance to less developed countries on a soft loan basis ie. on terms imposing lower servicing charge on loans than the conventional bank charges.
 
Objectives
1) To promote economic development
2) To increase productivity
3) To raise standard of living in the member countries
4) Furthering the developmental objectives of the World Bank and supplement its activities.
5) To provide finance to the member countries to meet their important development requirements. IDA loans can be utilized to finance both foreign exchange and local
currency costs.
 


Friday, 18th Mar 2016, 10:25:42 AM

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