Introduction
Created in 1960 as part of the World Bank Group, the International Development Association (IDA) makes grants and concessional loans with long repayment periods and low interest rates to the world’s poorest countries. Eligibility for loans and grants requires that a country’s Gross National Income per capita be under a specified amount, $1,315 in the fiscal year 2024. There are currently 75 countries eligible for IDA resources.
