International Development Association
The International Development Association (IDA) is a global development organization that is part of the World Bank Group. It provides low-interest loans and grants to developing countries, especially those with the least capacity to borrow on the international market. IDA’s focus is on reducing poverty and improving the living standards of people in the poorest and most vulnerable countries.
It provides financing and technical assistance to support a wide range of development activities, including infrastructure, education, health, social protection, and environmental management. IDA aims to help countries achieve the Sustainable Development Goals (SDGs) and reduce the number of people living in extreme poverty.
Who are the beneficiaries?
IDA provides assistance to the poorest and most vulnerable countries in the world. These countries are eligible to receive financing from IDA if they meet certain criteria, including low per capita income, a high percentage of the population living in poverty, and a high level of vulnerability to external shocks.
As of 2021, there are currently 73 countries that are eligible to receive IDA financing. These countries are primarily located in sub-Saharan Africa, as well as some in Asia and the Pacific and a few in the Middle East and North Africa. IDA also provides assistance to countries that are affected by conflict or post-conflict situations, as well as to countries that are at risk of debt distress.
International Development Association and India
India is one of the largest beneficiaries of International Development Association (IDA) financing. IDA has provided funding to support a wide range of development activities in India, including infrastructure, health, education, and social protection. IDA has also supported projects to improve the country’s business environment and increase access to finance for small and medium-sized enterprises. IDA’s support has played a significant role in helping India to achieve its development goals and reduce poverty. As of 2021, India is no longer eligible for IDA financing because it has graduated to middle-income status, but it continues to receive support from other World Bank Group organizations, such as the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of The Kootneeti Team