Bank for United Development
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| Abbreviation | BUD, BDU |
|---|---|
| Type | International Financial Institution |
| Legal status | Treaty |
| Headquarters | Baiqiao, Xiaodong |
Membership | |
Official language | Gaullican |
President | Wen Kezhi |
Parent organization | International Forum for Developing States |
| Website | www |
The Bank for United Development (Gaullican: Banque pour le Développment Uni) is an multilateral development bank established by the member-states of the International Forum for Developing States in "TBD", through the Treaty of Karatan. According to the founding treaty, the responsibility and focus of the bank is to "support public and private projects, through loans, guarantees, equity participation and other financial instruments. With constructive and responsible advisement, promotion and beneficial frameworks."
The bank was founded with the pre-agreed initial authorised capital of €220 billion divided into 20,000 shares worth €1 million each. A further €10 billion was assigned to the bank itself for independent use of the member-states. The initial subscribed capital of the BDU is $80 billion divided into callable shares ($60 billion) and paid-in shares ($20 billion). The charter of the BDU grants each member one-vote and no member possesses a veto. The bank is subject to limited oversight or management by its parent, the IFDS and access to the bank's financial products is not limited to IFDS member-states, though permission for outside access from the member-states is required.
The BDU is widely seen as a rival and competitor to the Global Institute for Fiscal Affairs. It is headquartered in Baiqiao, Xiaodong.