Donor who are entitled to pay most of their contributions to the International Development Association (IDA) in local currency.
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International Bank for Reconstruction and Development
Otherwise known as the World Bank. The World Bank provides loans and development assistance to middle-income and lower-income countries with a stated aim of reducing poverty. Loans generally have a five-year grace period and must be repaid over a period of 15-20 years. The Bank obtains most of its funds through the sale of bonds in international capital markets and whilst not a profit maximizing organisation, has earned net income every year since 1948.
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Development Economics Department
Department of the World Bank responsible for collecting, studying and sharing information relating to development.
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Quota
The capital subscription, expressed in Special Drawing Rights (SDRs), that each member must pay to the IMF on joining. Up to 25 per cent is payable in SDRs or other acceptable reverse assets and the remainder in the members own currency. Quotas, which reflect member's relative size in the world economy, are normally reviewed every 5 years.
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Multilateral Aid
Aid channelled through multilateral institutions for use in or on behalf of aid recipient countries.
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G-7
Group of seven leading industrialized countries - USA, Britain, France, Italy, Japan, Germany and Canada.
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Comprehensive Development Framework
Framework developed by the World Bank to coordinate all actors in the development process towards implementing a coherent framework of macroeconomic, structural and social reforms for poverty reduction.
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Tranche
An installment of a loan: IMF loans are disbursed incrementally to ensure adherence to attached conditions.
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Poverty Reduction Support Credit
Bank programme loan availability to countries in support of a Poverty Reduction Strategy Paper (PRSP).
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Inter-American Development Bank
A financial institution responsible for the financing of social and economic development in Latin America and the Caribbean.
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Environmental Strategy
Strategy adopted by the World Bank in relation to the environmental dimensions of World Bank policies.
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Back Loading
Deferring the disbursement until specified conditions have been implemented.
