History | What is IDA? | International Development Association

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class=""> <source type="image/webp" media="(min-width:768px)" srcset="https://worldbank.scene7.com/is/image/worldbankprod/for-history-section-1440-600?wid=1440&hei=600&qlt=100,0&resMode=sharp" class="img-responsive"> <source media="(min-width:992px)" srcset="https://worldbank.scene7.com/is/image/worldbankprod/for-history-section-1440-600?wid=1440&hei=600&qlt=100,0&resMode=sharp" class="img-responsive"> <source type="image/webp" media="(min-width:320px)" srcset="https://worldbank.scene7.com/is/image/worldbankprod/for-history-section-1440-600?wid=1440&hei=600&qlt=100,0&resMode=sharp" class="img-responsive"> <source media="(min-width:768px)" srcset="https://worldbank.scene7.com/is/image/worldbankprod/for-history-section-1440-600?wid=1440&hei=600&qlt=100,0&resMode=sharp" class="img-responsive"> <img src="https://worldbank.scene7.com/is/image/worldbankprod/for-history-section-1440-600?wid=1440&hei=600&qlt=100,0&resMode=sharp" alt="IDA was born on September 24, 1960 to promote economic development by providing finance to less developed countries on more flexible terms than regular International Bank for Reconstruction and Development (IBRD) loans were able to offer. Over its 60-year evolution, IDA supported the world in addressing stubbornly familiar problems–economic shocks, natural disasters, conflict–and challenges that are likely to define a generation: climate change, gender equality, transparent and accountable institutions, and more and better jobs." title="IDA was born on September 24, 1960 to promote economic development by providing finance to less developed countries on more flexible terms than regular International Bank for Reconstruction and Development (IBRD) loans were able to offer. Over its 60-year evolution, IDA supported the world in addressing stubbornly familiar problems–economic shocks, natural disasters, conflict–and challenges that are likely to define a generation: climate change, gender equality, transparent and accountable institutions, and more and better jobs." class="img-responsive lp-cover" id="sr__figure__fe861013afb94c689fb1aded41da416d"> </picture> <figcaption aria-describedby="sr__figure__fe861013afb94c689fb1aded41da416d" ></figcaption> </figure> </div> </div> </div> </div> </div> </div> </div> <div class="supergrid parbase section"> <div class="full-row-overlay-banner" style="padding: 0px 0px 0px 0px; "> <div class="container"> <div class=""> <div class="par parsys"><div class="gridlayout parbase section"> <div class="row mar-0"> <div class="col-md-12 col-xs-12 pad-0 colsplit 2"> <div class=" lp__pink_banner" > <div class="grid_12_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="gridlayout parbase section"> <div class="row "> <div class="col-md-9 col-lg-9 col-sm-12 col-xs-12 colsplit" id=""> <div class=" "> <div class="grid_9_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="reference parbase section"> 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The success of that enterprise led the Bank, within a few years, to turn its attention to the developing countries. By the 1950s, it became clear that the poorest developing countries needed softer terms than those that could be offered by the Bank, so they could afford to borrow the capital they needed to grow.</p><p>As early as 1949, a report from the United Nations (U.N.) proposed a new international organization called the United Nations Economic Development Administration (UNEDA) under the auspices of the U.N. In the 1950s, the U.S. government-supported establishing a program to lend to poor countries on concessional terms with the backing of multilateral donors. After initial deliberations, the idea to create the International Development Association (IDA), an agency to provide ‘soft-loans’ to developing countries, was floated within the Bank under the stewardship of <a href="https://www.worldbank.org/en/about/archives/history/past-presidents/eugene-robert-black">President Eugene Black</a>.</p><p> <figure class='lp__body_content_full_size'> <picture><source type=image/webp media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/archives-ida-60-1?wid=780&hei=439&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:992px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/archives-ida-60-1?wid=780&hei=439&qlt=85,0&resMode=sharp' class=img-responsive><source type=image/webp media=(min-width:320px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/archives-ida-60-1?wid=780&hei=439&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/archives-ida-60-1?wid=780&hei=439&qlt=85,0&resMode=sharp' class=img-responsive><img src='https://worldbank.scene7.com/is/image/worldbankprod/archives-ida-60-1?wid=780&hei=439&qlt=85,0&resMode=sharp' class='img-responsive' alt='The World Bank' title='' id='fig_94373f83ac68441a98e64b995fab829e_1'></picture></figure></p><p>(<a href="https://timeline.worldbank.org/en/timeline/home?timeline=IDA%20History#event-un-proposes-new-international-organization-to-offer-low-interest-loans">Explore IDA's history in a timeline developed with the World Bank Group Archives</a>. Through 87 events and nearly 500 archival and informational sources, the timeline explores the origins of IDA, its vital role in providing financial and knowledge resources, and the innovative ways it has supported economic and social development across the poorest countries in the world.) </p><p><strong>Monroney Resolution</strong></p><p><span> <figure class='lp__body_content_sm_ver lp__body_left_img'><picture><source type=image/webp media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/monroney-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:992px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/monroney-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source type=image/webp media=(min-width:320px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/monroney-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/monroney-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><img src='https://worldbank.scene7.com/is/image/worldbankprod/monroney-439-439?wid=165&qlt=85,0&resMode=sharp' class='img-responsive' alt='The World Bank' title='' id='fig_94373f83ac68441a98e64b995fab829e_2'></picture></figure></span>As the initiative to launch IDA gained considerable momentum within the Bank, externally it received support from Democratic Senator Mike Monroney of Oklahoma, who was interested in the provision of soft-loans for developing nations with the World Bank as the dispenser of the aid. When appointed chairman of the Senate Subcommittee on International Finance, he proposed what came to be known as the Monroney Resolution.</p><p><strong>Articles of Agreement for IDA</strong></p><p><span> <figure class='lp__body_content_sm_ver lp__body_left_img'><picture><source type=image/webp media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/eisenhower-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:992px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/eisenhower-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source type=image/webp media=(min-width:320px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/eisenhower-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/eisenhower-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><img src='https://worldbank.scene7.com/is/image/worldbankprod/eisenhower-439-439?wid=165&qlt=85,0&resMode=sharp' class='img-responsive' alt='The World Bank' title='' id='fig_94373f83ac68441a98e64b995fab829e_3'></picture></figure></span>After the resolution passed in the U.S. Senate in 1958, the U.S. government welcomed the proposal of a development association housed in the World Bank. After consultations, the Bank’s Board of Governors at its Annual Meeting in 1959 approved a United States resolution calling on the Bank’s Executive Directors to draft the Articles of Agreement for IDA.</p><p>Before the end of January 1960, the Bank had circulated the <a href="https://thedocs.worldbank.org/en/doc/2a209939e876fdcd0d957036daebff6e-0410011960/ida-articles-of-agreement">Articles of Agreement</a> to all of the members for ratification, and received approval from member countries including the U.S. under <a href="http://www.presidency.ucsb.edu/ws/index.php?pid=12050">President Dwight D. Eisenhower</a>.</p><p><strong>Launch of IDA</strong></p><p><span> <figure class='lp__body_content_sm_ver lp__body_left_img'><picture><source type=image/webp media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/hondurus-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:992px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/hondurus-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source type=image/webp media=(min-width:320px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/hondurus-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><source media=(min-width:768px) srcset='https://worldbank.scene7.com/is/image/worldbankprod/hondurus-439-439?wid=165&qlt=85,0&resMode=sharp' class=img-responsive><img src='https://worldbank.scene7.com/is/image/worldbankprod/hondurus-439-439?wid=165&qlt=85,0&resMode=sharp' class='img-responsive' alt='The World Bank' title='' id='fig_94373f83ac68441a98e64b995fab829e_4'></picture></figure></span>With initial funding of $912.7 million, IDA was launched on September 24, 1960, with 15 signatory countries - Australia, Canada, China, Germany, India, Italy, Malaysia, Norway, Pakistan, Sudan, Sweden, Thailand, United Kingdom, United States, and Vietnam. Within its first eight months of launch, IDA had 51 members and allocated credits worth $101 million to four countries: Sudan, Chile, India, and Honduras. In 1961, Honduras became the first country to receive an IDA credit, an $9 million for highway development and maintenance, including a 62-mile extension of the Western Highway.</p><p>IDA has grown to include <a href="https://www.worldbank.org/en/about/leadership/members#2">175 member countries</a>, and has become the leading source of concessional lending to <a href="/en/about/borrowing-countries">78 of the world’s poorest countries</a>. Overall, <a href="/en/about/borrowing-countries/ida-graduates">35 countries have graduated from IDA</a>. Since its inception, IDA credits and grants have totaled $533 billion, averaging $36 billion over the last three years (FY21-FY23).</p><p> </p> <p>Last Updated: Oct 19, 2024</p></article></section> <div class="clearfix"></div> </div> </div> </div> </div> </div> <div class="col-md-1 colsplit 2"> <div class=" " > <div class="grid_1_par_2 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > </div> </div> </div> </div> </div> <div class="clearfix" aria-hidden="true"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> </div> </div> </main> <footer> <div class="footer idaFooter"> <div class="lp__footer_top_section"> <div class="container"> <div class="row"> <div class="col-lg-8 col-md-7 col-sm-12 col-xs-12"> <div class="lp__footer_top_left"> <a href="/en/home" class="lp__navbar_brand"><img title="IDA Logo" alt="IDA Logo" src="/content/dam/sites/ida/en/img/migrated/pictures/ida-logo.svg" class="img-responsive"> </a> <nav 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