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International Development Association: A legal fiction designed to secure an LDC constituency

Published online by Cambridge University Press:  22 May 2009

Ronald T. Libby
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Type
Comments and current views
Information
International Organization , Volume 29 , Issue 4 , Fall 1975 , pp. 1065 - 1072
Copyright
Copyright © The IO Foundation 1975

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References

1 IBRD, Eleventh Annual Report, 1955–1956Google Scholar. See the table on p. 15.

2 IBRD, Summary Proceedings of the Annual Meeting of the Board of Governors, 1960, p. 9Google Scholar.

3 IBRD, Summary Proceedings of the Annual Meeting of the Board of Governors, 1961, p. 12Google Scholar.

4 IBRD, Summary Proceedings, Annual Report of the Board of Governors, 1960, p. 9Google Scholar.

5 Ibid.

6 IBRD, Sixteenth Annual Report, 1960–1961, p. 7Google Scholar.

7 The long-sought release of European countries' 18 percent quotas for Bank use and the increase in its subscription quotas improved the Bank's ability to borrow in private capital markets.

8 IBRD, Fourteenth Annual Report, 1958–1959, pp. 6–7Google Scholar.

9 The 1948 European Recovery Program of massive European reconstruction capital at interest rates with which the Bank could not compete displaced the IBRD's initial reconstruction goal and forced it to find another task at which it could succeed.

10 IBRD, Summary Proceedings, Annual Meeting of the Board of Governors, 1958, p. 13Google Scholar.

11 IBRD, Annual Report, 1963–1964, p. 10Google Scholar.

12 IBRD, Annual Report, 1968, p. 23Google Scholar. An informal debt repayment information center had been in operation in the Bank since 1955. IBRD, Tenth Annual Meeting of the Board of Governors, 1955, pp. 6–7Google Scholar.

13 IBRD, Annual Report, 1968, pp. 35–40Google Scholar; IBRD, Annual Report, 1969, p. 39Google Scholar; IBRD, Trends in Developing Countries, 10 1969, p. 19Google Scholar; IBRD, Annual Report, 1970, p. 49Google Scholar.

14 IBRD, Annual Report, 1970, p. 32Google Scholar.

15 IBRD, Annual Report, 1972, p. 6Google Scholar.

16 The Bank has chaired consortia and consultative groups for the following countries: India, Pakistan, Colombia, Zaire, Kenya, Tanzania, Uganda, Ethiopia, Ghana, Korea, Malaysia, Morocco, Nigeria, Philippines, Peru, Sudan, Thailand, Tunisia and Sri Lanka. It has also provided technical assistance and support for the intergovernmental group for Indonesia and the OECD-sponsored consortium for Turkey. IBRD, The World Bank, IDA, and IFC; Policies and Operations, 06 1971, p. 43Google Scholar; IBRD, Annual Report, 1973, pp. 41, 47, 64–5, 119Google Scholar.

17 Klein, Thomas M., “Economic Aid Through Debt Relief,” paper presented for the University of Augsburg, Summer Institute on Comparative Urban and Grants Economics, 08 21–24, 1972, pp. 8–28 and tables 1–5Google Scholar; IBRD, Summary Proceedings, Annual Report of the Board of Governors, 1973, p. 19Google Scholar.

18 Asher makes an allusion to IDA as an “elaborate fiction” to “soften” the bank's lending terms and thus avoid the loss of its LDC clientele because of their increasing difficulty repaying debts. However, out of forty pages spent discussing IDA, only two paragraphs were devoted to this thesis as one of three possible explanations of IDA. Mason, Edward S. and Asher, Robert E., The World Bank Since Bretton Woods (Washington, D.C.: The Brookings Institution, 1973), pp. 380–1Google Scholar.

19 IBRD, Summary Proceedings, Annual Report of the Board of Governors, 1962, p. 14Google Scholar.

20 Ibid., pp. 13–14.

21 Ibid., pp. 14–15.

22 As of September 1972, IDA membership was comprised of 19 Part I or donor countries and 89 Part II or borrowing LCD countries, which included IDA recipients. Three Part II countries, Ireland, Spain, and Yugoslavia and a non-member, Switzerland, however, have made contributions to IDA, bringing the number of IDA donors to 23. Kamarack, Andrew M., “The Allocation of Aid by the World Bank Group,” Finance and Development 9, no. 3, (09 1972): 26–7Google Scholar.

23 Davies, Cyril H., “The Bank Group Meeting,” Finance and Development 6, no. 4, (12 1969): 5Google Scholar.

24 After pressing for annual appropriations for the CDF for five years, the annual 1973 contributions amounted to only $668,798 which was down from the 1972 pledging of $853,258. UN Monthly Chronicle IX, no. 11, (12 1972): 92Google Scholar.

25 Davies, Cyril H., “The Bank Group Meeting,” Finance and Development 6 no. 4, (12 1969): 6Google Scholar.

26 UN Office of Public Information, Yearbook of the United Nations, 1966, p. 277Google Scholar.

27 UN Office of Public Information, UN Monthly Chronicle 5, no. 1, (01 1968): 89Google Scholar.

28 UN Office of Public Information, UN Monthly Chronicle 5, no. 2, (02 1968): 37Google Scholar.

29 IBRD, “Recent Activity,” Finance and Development, no. 2, 1970, p. 60Google Scholar.

30 IBRD, Annual Report, 1972, p. 5Google Scholar.

31 Davies, Cyril H., “The Bank Group Meeting,” Finance and Development: 7, no. 4, (12 1970): 33–4Google Scholar.

32 Pearson, Lester B., Partners in Development (New York: Praeger, 1969) p. 223Google Scholar.

33 Shivan, Martin, “The Bank Group Meeting,” Finance and Development 9, no. 4, (12 1972): 34Google Scholar.

34 During fiscal 1972, the Bank lent $3 billion or double its rate of lending during the previous five years of operation. IBRD, Annual Report, 1972, p. 5Google Scholar.