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International Development Association
The
International Development Association
(
IDA
) is an
international financial institution
which offers concessional
loans
and
grant
s to the world's poorest
developing countries
. The IDA is a member of the
World Bank Group
and is headquartered in
Washington, D.C.
,
United States
. It was established in 1960 to complement the existing
International Bank for Reconstruction and Development
by lending to developing countries which suffer from the lowest
gross national income
, from troubled
creditworthiness
, or from the lowest
per capita income
. Together, the International Development Association and International Bank for Reconstruction and Development are collectively generally known as the
World Bank
, as they follow the same executive leadership and operate with the same staff.
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