India borrows from the World Bank through International Bank for Reconstruction and Development (IBRD) and International Development Association(IDA). Consider the following statements in this context:
- IDA funds are one of the most concessional external loans,
- IBRD funds are costlier and at par with the commercial external borrowings in terms of interest rates
- IDA loans are used largely Infrastructure projects
Which among the above statements is/ are correct?
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