United Development Bank
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| Abbreviation | UDB, UIA |
|---|---|
| Formation | 12 September, 2001 |
| Type | International financial institutions |
| Legal status | Active |
| Headquarters | Dervaylik |
| Location | |
Membership | Worldwide |
Official language | |
| Affiliations | Forum of Nations |
The United Development Bank (UDB), formerly referred to as the Periclean Investment Bank, is a global multilateral development bank chartered through the Periclean Forum and continued by its successor, the Forum of Nations, as an international bank and global lender of last resort. The bank was set up to provide finance to infrastructure and other investment projects as well as financial assistance to members across the world having issues with balance of payments. Most nations who are members of the Forum of Nations are members of the bank, although there are a few notable exceptions to this.
It is headquartered in Dervaylik, Yisrael. The small West Scipian nation, known for its banking and financial expertise, was selected as the host country, and many of the bank's employees and officers are Yisraelis. The UBD has a stated policy of "one member, one vote" and no nation has, on paper, access to veto powers. The UDB was created in 2001 during the millennium economic miracle inside the Periclean world to ensure every Periclean state - and, later, nation in the world - had access to investment funds and emergency support without 'economic or political bias'. The United Development Bank's membership is open to all internationally recognized states across the world.
Nonetheless, Latium, Sante Reze, and Yisrael all have strong informal power over the bank, its policy, and lending, much to criticism from other states with less market-based economies. Philosophically, the bank has largely been described as neoliberal, both by its proponents and critics, reflecting dominant attitudes in its most powerful members. However, during the Herzog administration, the bank's policy shifted to incorporate many elements of Oxidentalist economic thought. Upon its creation in 2019, the Kiso Pact members created their own multilateral banking organization to reflect their own anti-capitalist and socialist political economies in what was perceived by economic observers as an explicit reaction to the UBD.