IDA countries and Prompt Payment Code: Difference between pages

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imported>Doug Williamson
(Create page. Source: IDA webpage http://ida.worldbank.org/about/borrowing-countries)
 
imported>Doug Williamson
(Added acronym in line with PPC webpage - http://www.promptpaymentcode.org.uk/)
 
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''World Bank - International Development Association (IDA).''
(PPC).


The IDA aims to reduce poverty in the world's poorest countries by providing loans and grants for programmes that boost economic growth, reduce inequalities, and improve living conditions.
Prompt payment of suppliers is encouraged or required by a number of initiatives.  


Eligibility for IDA support depends primarily on a country’s relative poverty, defined as gross national income (GNI) per capita below an established threshold, and updated annually.
Examples include the UK’s voluntary Prompt Payment Code and the EU’s mandatory Late Payment Directive 2011/7.




IDA also supports some countries, including several small island economies, that are above this GNI level, but lack the creditworthiness needed to borrow from the International Bank for Reconstruction and Development (IBRD).  
As an example, signatories to the UK Prompt Payment Code undertake to pay suppliers within a maximum of 60 days (in line with late payment legislation requirements), to work towards adopting 30 days as the norm, and to avoid any practices that adversely affect the supply chain.


Some countries are IDA-eligible based on per capita income levels and are also creditworthy for some IBRD borrowing. They are referred to as “blend” countries.
Similar codes and legislation have been implemented in a number of jurisdictions.




Between 70 and 80 borrowing countries were eligible to receive IDA support in 2020.
== See also ==
*[[Credit]]
*[[Open account]]




== See also ==
===Other links===
* [[Forbearance]]
*[http://www.promptpaymentcode.org.uk/ Prompt Payment Code home page]
* [[Gross National Income]]
* [[International Bank for Reconstruction and Development ]]
* [[International Development Association]]
* [[International Monetary Fund]]
* [[World Bank]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Financial_products_and_markets]]

Revision as of 16:04, 8 February 2017

(PPC).

Prompt payment of suppliers is encouraged or required by a number of initiatives.

Examples include the UK’s voluntary Prompt Payment Code and the EU’s mandatory Late Payment Directive 2011/7.


As an example, signatories to the UK Prompt Payment Code undertake to pay suppliers within a maximum of 60 days (in line with late payment legislation requirements), to work towards adopting 30 days as the norm, and to avoid any practices that adversely affect the supply chain.

Similar codes and legislation have been implemented in a number of jurisdictions.


See also


Other links

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