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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Individual Development Account

A savings account for persons with lower income. The funds put into an IDA are matched by a public or private organization. One may use the funds in an IDA for educational purposes, starting a business, or buying a first house. IDAs are accompanied by programs for credit improvement and other classes to help account holders move up from poverty and into the middle classes.

International Development Association

A division of the World Bank that provides long-term, interest-free loans to the world's 80 poorest countries. The IDA is responsible for poverty reduction and other aspects of international development in the Third World. Nearly half of the countries it assists are in Africa. The IDA was established in 1960; its loans assist in public health, business development, education, and infrastructure development.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
28 meeting, the IDA board voted unanimously to revoke the PILOT.
3) the benefit and need for follow-up was the most common element not discussed or documented by the IDA.
He proposed the creation of parallel asset-building structures for low-income individuals in the form of IDAs. IDAs are an anti-poverty initiative that provides financial education classes, matching funds, and specific allowable purchases for low-income populations.
IDAs are savings accounts whereby qualified poor are required to save a certain amount each week, (42) and these savings are matched by private organizations, including nonprofits, financial institutions, and government funding.
(44) During his presidency, Bill Clinton voiced support for IDAs, as did George W.
Bernstein suggests that class dynamics and "highly skewed power relations" are likely to keep IDAs "at token levels." My view is that the Child Trust Fund precedent in the United Kingdom sets the stage for a universal children's account in the United States within the next 20 years.
* The Input/Output Interface inputs the data from the four-step planning models into the IDAS software.
The IDA is just an extraordinarily valuable tool to promote investment into Nassau County and Long Island itself.
Still, IDAs are Public Benefit Corporations, so what does the public get in return for these incentives?