Word: idas
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Dates: during 1950-1959
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...IDA E. MCKENZIE Stockton, Calif...
...much to Treasury's surprise, has also heeded the arguments of Ambassador to the United Nations Henry Cabot Lodge, who supports IDA, but also wants the U.S. to handle some foreign aid through the U.N. Last year Lodge won the President's approval for a U.S.-sponsored "U.N. Special Fund," which provides modest sums for pre-investment surveys in underdeveloped countries, also for technical training. Since then, the U.S. has contributed $5,000,000 to the U.N. Special Fund. Lodge now believes that this U.N. Special Fund is the logical mechanism for U.S.-U.S.S.R. cooperation in foreign...
...another. The President backs Treasury Secretary Robert Anderson's concept that the U.S. ought to join with prospering Western allies to create a pool of foreign-aid capital clearly identified with free nations. He has approved Anderson's plan for a new International Development Association (IDA), capitalized with a joint $1 billion, which will get its first public airing week after next, when the governors of the World Bank meet in Washington...
Shaping up is a drive not to pare but to share the aid burden with Germany, Britain, France, and even some of the underdeveloped nations. This would be done by creating an International Development Association, dubbed "Ida." Ida was introduced to last fall's meeting of the World Bank (TIME, Oct. 20), but failed to get far because the U.S. did not push it with vigor. Now the U.S. expects to plump hard for Ida at the World Bank's September meeting in Washington, set it up with initial capital of $1 billion (one-third contributed...
Because developing nations have a growing need for all kinds of capital-not just dollars-Ida would make loans and accept payments in soft currencies as well as hard. To get a loan, a borrower would have to ante up some of his own money. Having a stake in Ida, the soft-currency countries would have a real incentive to spend Ida's money with prudence...