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International Development Association

noun
1.
an organization set up in 1960 to provide low-interest loans to developing countries. It is part of the World Bank Group IDA
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Encyclopedia Article for international development association

International Development Association

United Nations specialized agency affiliated with but legally and financially distinct from the International Bank for Reconstruction and Development (World Bank). It was instituted in September 1960 to make loans on more flexible terms than those of the World Bank. IDA members must be members of the bank, and the bank's officers serve as IDA's ex officio officers. Headquarters are in Washington, D.C

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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