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Slovakia to contribute €2 million to IDA

BASED on a Slovak Finance Ministry proposal approved by the cabinet on September 14, Slovakia will contribute €2.07 million (Sk76.3 million) to the International Development Agency (IDA) between 2006 and 2008, the SITA news agency wrote.

IDA provides interest-free loans and grants to enhance economic growth and increase living standards in the poorest countries in the world, where gross national product per capita failed to reach $865 per capita in 2002 and the financial situation does not allow them to take standard loans to the International Bank for Reconstruction and Development. At the moment, 81 countries across the world with a 2.5 billion population meet these criteria.
IDA was established in 1960 and is one of five World Bank institutions. It is interconnected with the IBRD and registered 165 members as of March 31, 2005.

Compiled by Martina Juranová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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