International Development Association (Noun)
Meaning
An agency of the United Nations affiliated with the World Bank.
Classification
Nouns denoting groupings of people or objects.
Examples
- The International Development Association is the soft-loan affiliate of the World Bank Group that provides financing for development projects in low-income countries.
- The World Bank manages and directs the International Development Association, which provides financing on favorable terms to poor countries.
- The International Development Association is the key source of long-term, low-interest loans and grants for development projects in the poorest countries.
- Established in 1960, the International Development Association has supported development projects in over 80 countries worldwide.
- The International Development Association and the International Finance Corporation are sister organizations of the World Bank that promote economic development and poverty reduction.