International Development Association (IDA) was set up in 1960. It provides term loans to member countries at concessional terms and conditions for their economic. development. It creates supplementary sources of credit for member countries. It assists in poverty alleviation programme of least developed countries. It provides support for health, education, infrastructure, agriculture, human resources development of developing and least developed countries.

(i) Agreement forming part of GATT:
GATT is an important part of WTO agreements. It includes special agreement evolved to deal with non-tariff barriers.
(ii) Agreement on textile and clothing:
This agreement was evolved to eliminate quota restrictions imposed by developing countries on the export of textiles and clothing by them. It helps mainly developing countries to expand their textile and clothing export.
(iii) Agreement of agriculture (AOA):
This agreement was made to ensure free and fair trade in agriculture. This agreement made the developed countries reduce customs duties on their imports and subsidies on the export of agricultural products. But developing countries were exempted from making reciprocal offer keeping in view of high dependence of these countries on agriculture.
(iv) General agreement on trade in services:
Under this agreement, all member countries were required to remove restrictions on trade in. services in a phased manner. It provides that trade in service is governed by the principle of most favoured nation obligation. In other words countries have to award business contract on the basis of merit of service suppliers and on the basis of nationality status of service provider. It prevents the countries from discriminating between foreign service provider and local service provider. This agreement requires all the member countries to publish their laws relating to trade in service.
(v) Agreement on Trade Related aspects of Intellectual Property Rights (TRIPS):
This agreement sets out seven minimum standards of protection to be accepted by parties in respect of seven intellectual properties namely, copyright, trademark, geographical indication, industrial design, patent, layout design of integrated circuits and undisclosed information.

The objectives of IBRD are:
(i) Providing long term capital to member countries to reconstruct and develop their war-affected economy.
(ii) Promoting capital investment in member countries.
(iii) Providing guarantees for loans granted to small and large units and other projects of member countries.
(iv) Ensuring implementation of development projects so as to transform the war-affected economy into peace economy.
(v) Providing long term capital for ensuring balance of payment equilibrium and balanced development of international trade.

(i) Trade without Discrimination-Most Favoured Nation-Treating other people Equally.
(ii) Free Trade-Gradually through Negotiation.
(iii) Predictability through binding and Transparency.
(iv) Promoting Fair Competition.