Page "International Development Association" Paragraph 4

By the end of January 1960, fifteen countries signed the articles of agreement which established the International Development Association.

The association launched in September of that same year with an initial budget of $ 913 million ($ 7. 1 billion in 2012 dollars ).

Over the next eight months following its launch, the IDA grew to 51 member states and loaned $ 101 million ($ 784. 2 million in 2012 dollars ) to four developing countries.