Canada And The International Development Association
Established in 1960, the IDA is the worlds largest multilateral source of concessional financing for the poorest countries. It is one of the WBGs main lending arms and provides development credits, grants and guarantees to the worlds poorest countries. This financing aims to increase economic growth, reduce poverty and improve the living conditions of the poor.
Interest charges for IDA credits are 0% or very close to 0%, and repayments are extended over 25 to 38 years, including a 5- to 10-year grace period. Eligibility for IDA resources is determined primarily by a members relative poverty, which is defined as gross national income per capita below an established threshold. The threshold, which is updated annually, was US$1,165 for the World Banks 2017 to 2018 fiscal year. In addition to concessional loans, countries at risk of debt distress receive grants. The organization also provides significant levels of debt relief through the Heavily Indebted Poor Countries Initiative and the Multilateral Debt Relief Initiative.
In the fiscal year ending on June 30, 2017, new IDA lending commitments amounted to US$19.5 billion for 261 operations, of which 11 were International Bank for Reconstruction and Development and IDA blended operations. These commitments included:
- US$16.2 billion in credits
- US$3.2 billion in grants
- US$50 million in guarantees.
Canadas role in the IDA
What Is An Ida Agreement
The IDA Agreement is a valid and binding obligation of the Stockholder and its applicable Affiliates and, to the knowledge of the Stockholder and its applicable Affiliates, each of the other parties thereto, and in full force and effect and, subject to the Bankruptcy and Equity Exceptions, enforceable in accordance
Apply To The Ida Program
Existing participants involved in BRIDGES, APANO, Elderberry Wisdom Farm, and HOPE Partnership programs can reach out to program facilitators to understand their respective application timelines. All others who are not an existing participants in the aforementioned programs should visit the Oregon IDA Initiative page to explore a list of current IDA providers.
Figure 1 Regional Distribution Of The Poverty
Source: World Bank Regional aggregation using 2011 PPP and $1.9 a day poverty line, data accessed online on June 28, 2017
IDA countries lag behind the world in terms of other key development outcomes. Figure 2 compares some key development achievements in IDA countries compared with the world in 2015 or the latest year for which data are available. The development indicators presented in the figure are described in Appendix A.
Could Ida Match Grants Help You Realize Your Dream
If you want to grow your career or start and/or expand a home-based or other small business an Individual Development Account may help. IDAs are bank accounts for those eligible to save their earned income for post-secondary education or small business start-up and/or expansion. The incentive is that the income saved in an IDA is matched by a grant when the IDA is used to fund approved education or business purchases.And, the Building Businesses & Entrepreneurs course can help you turn your idea and savings into a business to create wealth for you, your family, and your community..
Does The Government Give Out Free Money
The federal government does not offer grants or free money to individuals to start a business or cover personal expenses, contrary to what you might see online or in the media, it clearly states on usa.gov. Websites or other publications claiming to offer free money from the government are often scams.
Free Grants And Grant Scams
If you receive information stating you qualify for a “free grant,” it’s probably a scam. Get information from the Federal Trade Commission so you can better recognize and avoid grant scams. If you have been a victim of a grant scam, you can file a complaint with the FTC.
Contact your state consumer protection office if you have purchased a book or paid a fee to get grant information and are not satisfied.
Appendix B: The World Banks Approach To Human Rights
Human rights are enshrined in a range of international treaties that most countries have signed. The International Bill of Human rights is made up of the:
- Universal Declaration of Human Rights
- International Covenant on Economic, Social and Cultural Rights
- International Covenant on Civil and Political Rights
The Universal Declaration and its 2 covenants are the foundation of the contemporary international system of human rights.
The World Bank contributes directly and indirectly to the fulfillment of many human rights articulated in the Universal Declaration and the 2 covenants. For example, Article 3 of both international covenants:
- reaffirms the equal right of men and women to the enjoyment of all human rights
- enjoins states to make that principle a reality
The World Bank has been focusing on womens issues in development since the early eighties, and gender equality is a key priority for the IDA. Consistent with the WBGs gender strategies in 2001 and 2015, the IDA works to close gender gaps in:
- economic opportunities
- access to land titles
- other vital assets
Through its support of education, healthcare, nutrition, sanitation, housing, infrastructure and the environment, the IDA helps hundreds of millions of the worlds poorest attain crucial economic and social rights. The Banks support for good governance, accountable institutions, anti-corruption strategies and predictable legal frameworks in IDA countries helps people pursue a broad range of economic and civil rights.
Public Work Programmes To Support Infrastructure Maintenance
Smaller-scale public work programmes at the local level can have larger short-term fiscal multipliers than large-scale infrastructure projects. This is because they are usually less complex, and therefore can be implemented relatively quickly using local labour, goods and services. Large-scale infrastructure projects have longer lead-in times and tend to require more foreign firms and labour, so the benefits can either be felt too late or leak overseas.
Disaster Relief Available For Businesses In Path Of Hurricane Ida
The path of destruction Hurricane Ida left started on August 29, when it made landfall in Louisiana. It then moved to Mississippi before heading to the Northeast. There it wreaked havoc in New York and New Jersey as well as some counties in Connecticut, Delaware, and Pennsylvania.
When parts of the states affected by Ida get disaster declarations, federal funds can start flowing in to help. To date Louisiana, New York, and New Jersey have received the designation. This will allow individuals and businesses to start receiving federal help.
For small businesses, this means loans from the Small Business Administration through the Economic Injury Disaster Loans . And in some cases, the Community Development Financial Institutions Fund can also help underserved communities.
Who Can Get A Grant
The federal government awards grants to organizations including:
- State and local governments
- Non-profit organizations
- Businesses
The intent of most grants is to fund projects that will benefit specific parts of the population or the community as a whole. What you might see about grants online or in the media may not be true. The federal government does not offer grants or free money to individuals to start a business or cover personal expenses. For personal financial assistance, the government offers federal benefit programs. These programs help individuals and families become financially self-sufficient or lower their expenses.
You Won The Government Grant In A Drawing
The government does not award grants based on a drawing or raffle an individual or entity must first apply for the grant through a federal website, like Grants.gov. Any individual who claims the government is awarding a grant, for example, to a lucky group of citizens who have paid their taxes on time is attempting to scam you.
Use Of Ida Resources Within Countries
IDA funding should prioritise government spending policies that minimise risks of permanent scarring from the crisis, but also support increased demand in the economy over the short-term. This means designing programmes that help stimulate local economic activity. IDA investment projects focus on delivering development outcomes at the lowest cost, usually through international competitive bidding. But this can lead to missed opportunities to channel aid through local actors and make greater use of local content goods produced in the country and services provided by domestic firms to maximise the short-term fiscal multiplier.
For example, when IDA funds road construction through international competitive bidding it is likely a foreign firm will be used due to difficulties encountered by local suppliers accessing procurement markets . While the recipient country benefits from the new road, the foreign firm will likely use more imported goods and foreign labour. Many other forms of development finance use tax exemptions for foreign aid that further disadvantage local firms and mean no taxes are paid to the host country.
A reform of IDA mechanisms to support the greater use of local content is unlikely any time soon. However, there are already some instruments that channel IDA funding through government or local partners where the local economic impact of aid is higher . For example:
Design Projects That Support Central Banks To Provide Lines Of Credit Or Guarantees To Firms Who Have Taken On Loans To Weather The Crisis
Many governments around the world have instructed the banking sector to offer generous lending terms to firms to help weather the crisis. However, as the duration and impact of the crisis continues, the likelihood of loans being quickly repaid has receded. Writing off loans to firms in certain targeted sectors could be a useful way to support economic recovery.
How Does Ida Work
IDA is overseen by its 174 shareholder countries, which comprise the Board of Governors. The day-to-day development work of IDA is managed by World Bank operational staff, governments, and implementing agencies.
IDA is overseen by its 174 shareholder countries, which comprise the Board of Governors. The day-to-day development work of IDA is managed by Bank operational staff, governments, and implementing agencies.
IDA has historically been funded largely by contributions from the governments of its member countries . Donors meet every three years to replenish IDA resources and review its policy framework. Officials from the now 50+ donor governments and representatives of borrowing member countries ensure that IDAs policy and financing frameworks are responsive to country needs. IDA also engages with civil society organizations , foundations and think tanks around the world when developing its policy frameworks.
The most recent replenishment of IDAs resources, the twentieth , was finalized in December 2021, resulting in a historic $93 billion financing package for IDA countries for fiscal years 2022-2025. The financing package is the largest ever mobilized in IDAs 61-year history.
How IDA funds are allocated
IDA borrowers have significant needs for concessional funds. IDA must therefore make decisions about how to allocate scarce resources among eligible countries.
To be eligible for funds, countries must first meet the following criteria:
What Is A Grant From The Government
A grant is one of the ways the government funds ideas and projects to provide public services and stimulate the economy. Grants support critical recovery initiatives, innovative research, and many other programs. You can find a list of projects supported by grants in the Catalog of Federal Domestic Assistance . You can also learn about the federal grant process and search for government grants at Grants.gov.
How Ida Should Support Recovery From The Covid
IDAs core ambitions are to boost economic growth, reduce inequality and improve livelihoods in the poorest and most vulnerable countries. But as a result of the Covid-19 crisis, achieving these aims has become significantly more difficult. There are also short-term challenges to contend with. These include greater risks of macroeconomic instability and quickly recovering some of the economic activity that has been lost. How can IDA balance these short-term challenges and long-term development needs?
IDA funding should prioritise government spending policies that support IDAs long-term core objectives. In addition, projects that get cash to businesses and citizens will raise demand in the economy and help to maximise the short-term fiscal multiplier . Such policies should be timely, targeted and temporary.
In the current context, timelywould mean interventions should be adapted depending on the progress of vaccination programmes and the reopening of economies. Instruments and programmes that are quick to implement and get money flowing to service provision, businesses and households should be chosen.Targeted policies would require a larger crisis response window to be allocated to countries and sectors most adversely affected by Covid-19, to achieve high multipliers in the short run through greater use of local content. The additional intervention should also be temporary, without loading spending pressures onto the national budget once IDA funds are withdrawn.
Search And Apply For Government Grants
To search or apply for grants, use the free, official website, Grants.gov. Commercial sites may charge a fee for grant information or application forms. Grants.gov centralizes information from more than 1,000 government grant programs. It’s designed to help states and organizations find and apply for grants.
This Type Of Federal Grant Does Not Require An Application
Every grant from the federal government involves an application submitted through a government website, such as Grants.gov. Also, you cannot apply for federal grants over the phone or via email. Any individual claiming that a grant does not require an application, or requires only a phone call or an email, is attempting to scam you.
Category B: Implementation Of Security Risk Assessment Plan
Category B has 2 sub-categories of funding or cost reimbursement for implementing mitigation measures, countermeasures and training identified by the professional security risk assessment.
B1: security planning, infrastructure and equipment purchases
Security planning includes contract expenses for implementing security risk assessment recommendations like:
- developing a facility security risk management plan
- developing facility security policies and procedures
Purchase, installation or upgrade of security equipment articulated within the facility security risk management plan.
B2: education and training
Tuition expenses for skills development of current organization staff or regular volunteer members like:
- Alberta basic security guard training
- first aid training
- mental health awareness and de-escalation courses
- conflict avoidance and violence prevention courses
- Incident Command System courses
Tuition, venue or contract expenses relating to education initiatives for community members like:
- upstander training
- hate crime awareness seminars or information workshops
- victim services seminars or information workshops
- newcomer or refugee integration workshops
Expenses relating to translation and production of security-related awareness and education materials for community members.
Idas And Social Security Disability Insurance
People on SSDI can enroll in any IDA program they choose. There are no restrictions.
One thing to consider though, especially if youre using an IDA to fund a small business: As your earned income increases, and particularly as you start earning above Social Security’s Substantial Gainful Activity level , SSDIs work rules will apply and your SSDI benefit may be affected. For details on how working can affect your SSDI, read DB101s section on SSDI and Work.
Who Is Eligible For Idaa Person Eligible For Interim Disability Assistance Must Be:
- Between the ages of 18 and 64
- Ineligible for TANF because no eligible child lives in the home
- Permanently and totally disabled
- Awaiting a decision on eligibility for SSI
- Ineligible for a category of cash assistance in which there is federal financial participation, except that an individual who has applied for SSI may be eligible during the period that the SSI is being processed.
Idas Supplemental Security Income And Medi
Because SSI and Medi-Cal have income and asset limits, working and saving money in an IDA account could risk your eligibility for those programs. Be sure to find out about the funding source before you enroll in a certain IDA:
- If you enroll in an IDA program that is federally funded via Temporary Assistance for Needy Families or the Assets for Independence Act , you dont need to worry about losing your benefits. Money deposited won’t be counted as a resource and a portion of it will be excluded from income for SSI or Medi-Cal.
- If you enroll in an IDA program that is funded by some other source, money deposited into your IDA may be counted as a resource and you could lose your SSI and Medi-Cal benefits.
If you are on SSI and Medi-Cal, you should enroll in an AFIA- or TANF-funded IDA.
Note
When you enroll in a TANF- or AFIA-funded IDA, ask your IDA caseworker to write a letter saying that you can be in the IDA program without losing your SSI benefits. The letter should mention the Exclusions Under Other Federal Statutes clause. Take that letter to Social Security, give a copy to the county to protect your Medi-Cal eligibility, and keep a copy of it for yourself.
Saratoga County Ida Ppe Grant Program
Advancing Job Opportunities, Business + Industrial Investment in Saratoga County, New York
The Saratoga County Industrial Development Agency was created in 1971. For almost half a century, the IDA has provided assistance in connection with the development of economically sound commercial entities within Saratoga County. The IDA goal is to advance the job opportunities, general prosperity, and the economic well-being of the citizens of Saratoga County.
Through legislation recently approved by the State of New York, the IDA is now able to assist for profit and not-for-profit entities in Saratoga County which have been negatively impacted by COVID-19 by providing grants of up to $10,000.00 for the purchase of personal protective equipment. In order to qualify, applicants must:
a) Have been financially viable entity prior to March 20, 2020
b) Have their principal office in Saratoga County
c) Be able to demonstrate that they were negatively impacted by the outbreak of the novel coronavirus COVID-19.
The Board will consider all invoices for PPE spent from March 7, 2020 to date.
Documentation will have to be supplied to the IDA to confirm to its satisfaction that any funds issued as a grant to a small business or not-for-profit have been used solely for the above purpose.
Please also note that the IDA is a public authority. As such, all information submitted will be examined in a public forum and may become public information.