Professional Documents
Culture Documents
Sec10 - 2011 - FABB - Policy Brief - RoleOfDonors
Sec10 - 2011 - FABB - Policy Brief - RoleOfDonors
Debt
The global economic crisis has landed developing coun- 2 The International Development Association, IDA, is the World Bank’s
Fund for the Poorest. One of the world’s largest sources of aid, IDA pro-
tries in a serious recession and much of the assistance they vides support for health and education, infrastructure and agriculture, and
have received from the international financial institutions economic and institutional development to the 79 poorest countries.
has come in the form of loans, which may lead to a new 3 The HIPC Initiative was launched in 1996 by the IMF and World Bank,
with the aim of ensuring that no poor country faces a debt burden it
1 The least developed countries (LDCs) are a group of countries that have cannot manage. Since then, the international financial community,
been identified by the UN as “least developed” in terms of their low including multilateral organizations and governments, have worked
gross national income (GNI), their weak human assets and their high together to reduce to sustainable levels the external debt burdens of
degree of economic vulnerability. the most heavily indebted poor countries.