In 2015,the country of Ringo (one of the poorest countries in Africa)requested a loan from the International Development Association (IDA)scheme of the World Bank.With reference to Ringo's loan application,which of the following observations about the IDA scheme of the World Bank is true?

Question

Quizplus · Accepted Answer

The option B is correct. The IDA scheme of the World Bank provides loans to the poorest countries in the world, including Ringo. These loans are interest-free, and borrowers have up to 50 years to repay the amount. Option A is incorrect because the IDA scheme raises money through contributions from its member countries, not through bond sales. Option C is incorrect because IDA loans go to the poorest countries in the world, regardless of their location. Option D and E are also incorrect because the IDA scheme provides grants and interest-free loans to the poorest countries, and they do not require a credit rating.

In 2015,the Country of Ringo (One of the Poorest Countries