International Development Association
The IDA aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
The IDA complements the World Bank’s original lending arm — the International Bank for Reconstruction and Development (IBRD).
The IDA is one of the largest sources of assistance for the world’s poorest countries, and is the single largest source of donor funds for basic social services in these countries.
The IDA lends money on concessionary terms. IDA credits have a zero or very low interest charges and repayments are stretched over periods in excess of 30 years, including a 5- to 10-year grace period.
The IDA also provides grants to countries at risk of debt distress.
The IDA was founded in 1960.