Question

The International Development Asso­ciation, a lending agency, is adminis­tered by the

1. International Bank for Reconstruc­tion and Development
2. International Fund for Development
3. United Nations Development Programme.
4. United Nations Industrial Development Organization

Answer 1

Correct Answer - Option 1 : International Bank for Reconstruc­tion and Development

The correct answer is International Bank for Reconstruc­tion and Development.

• International Development Association (IDA) is a financial institution that offers loans and funds to the poorest developing countries of the world.
• It was developed in 1960 headquartered in Washington DC, United States and works in cooperation with International Bank for Reconstruction and Development (IBRD) which was developed in 1944 to help rebuild Europe after World War II.
• IBRD and IDA together are called the World Bank.
• Both the organizations have the same headquarters and staff and evaluate projects based on the same standards.
• IDA emphasizes those countries which have the lowest gross national income and lowest per capita income.
• The aim of the World Bank is to reduce poverty and provide affordable development facilities to poor countries.
• These two organizations work collectively for the same.

• International Fund for Development- It  is an international organization whose objective of to improve agricultural development and livelihoods in developing countries
• United Nations Development Programme - The United Nations Development Programme is the global development network of the United Nations. 
• United Nations Industrial Development Organization- It is a specific agency of the United Nations which assists countries in economic and industrial development. Its headquarters is situated in Vienna along with a permanent presence in more than 60 countries.