IDA's Borrowing Programs

PRUDENT RISK MANAGEMENT CAPITAL ADEQUACY QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT LIQUIDITY STRENGTH OF MEMBER SUPPORT MOODY'S INVESTORS SERVICE Aaa Long-term rating Outlook: Stable S&P Global Ratings AAA Long-term rating Outlook: Stable • • • IDA benefits from World Bank's 75+ years of capital market experience. IDA's governance structure for risk management is the same as IBRD's. The same teams manage IDA's and IBRD's bond issuance program, risk management and asset-liability and liquidity management operations. Market risks are prudently managed and well capitalized to protect IDA's triple-A rating. IDA follows an ALM policy of matching the interest and currency sensitivity of its assets and liabilities to protect its equity from market rate movements. 20 20 IDA International Development Association WORLD BANK GROUP

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