Which of the following observations about the International Developmen

QUESTION

Which of the following observations about the International Development Association (IDA) scheme of the World Bank is true?

A. Money is raised through bond sales in the international capital market.

B. Borrowers have up to 50 years to repay at an interest rate of less than 1 percent a year.

C. IDA loans go only to European countries.

D. Grants and interest-free loans are denied to governments of underdeveloped nations.

E. The bank offers loans only to customers with a satisfactory credit rating.

ANSWER

B