The General Assembly,
Concerned by the persistence of poverty, underdevelopment, inadequate infrastructure, and limited access to capital in many nations,
Recognizing that sustainable economic development is essential to improving living standards, expanding opportunity, and promoting prosperity among all peoples,
Affirming that nations retain the sovereign right to determine their own economic systems and development priorities,
Believing that voluntary international cooperation can assist nations in pursuing development goals while respecting national autonomy,
Observing that many nations lack access to affordable financing for infrastructure, public services, scientific advancement, disaster recovery, and other projects that promote long-term development,
Desiring to facilitate mutually beneficial development financing without granting undue influence to any individual nation or group of nations,
Hereby,
1. Defines "development projects" as publicly or privately administered initiatives intended to improve the long-term productive capacity, public welfare, resilience, scientific advancement, or infrastructure of a nation, including but not limited to:
A. Transportation infrastructure;
B. Energy and utility systems;
C. Educational and research institutions;
D. Healthcare facilities and public health initiatives;
E. Communications and digital infrastructure;
F. Environmental restoration and conservation projects;
G. Disaster recovery and resilience measures;
2. Creates the World Assembly Development Institute (WADI) as a cooperative financial institution operating under the authority of the World Assembly;
3. Establishes WADI as an independent body tasked with:
A. Evaluating applications for development financing;
B. Providing loans and other approved financial assistance for eligible development projects;
C. Offering technical assistance and advisory services upon the request of member nations;
D. Monitoring the proper use of funds distributed through its programs;
E. Publishing regular reports regarding its finances, lending activities, and program outcomes;
4. Provides that all member nations shall be considered equal members of WADI and shall possess equal voting rights in the election of its governing bodies;
5. Creates a Governing Board of WADI consisting of representatives elected by member nations, charged with:
A. Approving financing programs;
B. Supervising Institute operations;
C. Adopting transparent lending standards;
D. Appointing administrative officers and auditors;
6. Authorizes WADI to obtain financing through:
A. Contributions from member nations;
B. Voluntary donations;
C. Returns generated through its lending activities;
D. The issuance of development bonds and similar financial instruments where permitted by applicable law;
7. Requires that financing decisions be based upon the expected developmental benefits, feasibility, and financial sustainability of proposed projects;
8. Prohibits WADI from conditioning assistance upon:
A. Adoption of any specific political ideology;
B. Establishment or abolition of any particular economic system;
C. Religious, cultural, or social policies unrelated to the funded project;
9. Permits WADI to require reasonable safeguards directly related to funded projects, including:
A. Financial transparency measures;
B. Anti-corruption protections;
C. Project monitoring requirements;
D. Performance benchmarks relevant to project completion;
10. Establishes a Development Assistance Reserve within WADI for the expedited provision of financing to nations affected by natural disasters, humanitarian emergencies, or severe economic disruptions;
11. Encourages member nations to cooperate with WADI in identifying development priorities and sharing successful development practices;
12. Directs WADI to utilize any operational surplus for the purposes of:
A. Expanding lending capacity;
B. Reducing borrowing costs;
C. Strengthening emergency reserves;
D. Improving assistance programs for member nations;
13. Affirms that participation in WADI programs shall not diminish the sovereignty of any member nation, and that all recommendations issued by WADI shall remain advisory unless otherwise agreed to by the recipient nation.
Concerned by the persistence of poverty, underdevelopment, inadequate infrastructure, and limited access to capital in many nations,
Recognizing that sustainable economic development is essential to improving living standards, expanding opportunity, and promoting prosperity among all peoples,
Affirming that nations retain the sovereign right to determine their own economic systems and development priorities,
Believing that voluntary international cooperation can assist nations in pursuing development goals while respecting national autonomy,
Observing that many nations lack access to affordable financing for infrastructure, public services, scientific advancement, disaster recovery, and other projects that promote long-term development,
Desiring to facilitate mutually beneficial development financing without granting undue influence to any individual nation or group of nations,
Hereby,
1. Defines "development projects" as publicly or privately administered initiatives intended to improve the long-term productive capacity, public welfare, resilience, scientific advancement, or infrastructure of a nation, including but not limited to:
A. Transportation infrastructure;
B. Energy and utility systems;
C. Educational and research institutions;
D. Healthcare facilities and public health initiatives;
E. Communications and digital infrastructure;
F. Environmental restoration and conservation projects;
G. Disaster recovery and resilience measures;
2. Creates the World Assembly Development Institute (WADI) as a cooperative financial institution operating under the authority of the World Assembly;
3. Establishes WADI as an independent body tasked with:
A. Evaluating applications for development financing;
B. Providing loans and other approved financial assistance for eligible development projects;
C. Offering technical assistance and advisory services upon the request of member nations;
D. Monitoring the proper use of funds distributed through its programs;
E. Publishing regular reports regarding its finances, lending activities, and program outcomes;
4. Provides that all member nations shall be considered equal members of WADI and shall possess equal voting rights in the election of its governing bodies;
5. Creates a Governing Board of WADI consisting of representatives elected by member nations, charged with:
A. Approving financing programs;
B. Supervising Institute operations;
C. Adopting transparent lending standards;
D. Appointing administrative officers and auditors;
6. Authorizes WADI to obtain financing through:
A. Contributions from member nations;
B. Voluntary donations;
C. Returns generated through its lending activities;
D. The issuance of development bonds and similar financial instruments where permitted by applicable law;
7. Requires that financing decisions be based upon the expected developmental benefits, feasibility, and financial sustainability of proposed projects;
8. Prohibits WADI from conditioning assistance upon:
A. Adoption of any specific political ideology;
B. Establishment or abolition of any particular economic system;
C. Religious, cultural, or social policies unrelated to the funded project;
9. Permits WADI to require reasonable safeguards directly related to funded projects, including:
A. Financial transparency measures;
B. Anti-corruption protections;
C. Project monitoring requirements;
D. Performance benchmarks relevant to project completion;
10. Establishes a Development Assistance Reserve within WADI for the expedited provision of financing to nations affected by natural disasters, humanitarian emergencies, or severe economic disruptions;
11. Encourages member nations to cooperate with WADI in identifying development priorities and sharing successful development practices;
12. Directs WADI to utilize any operational surplus for the purposes of:
A. Expanding lending capacity;
B. Reducing borrowing costs;
C. Strengthening emergency reserves;
D. Improving assistance programs for member nations;
13. Affirms that participation in WADI programs shall not diminish the sovereignty of any member nation, and that all recommendations issued by WADI shall remain advisory unless otherwise agreed to by the recipient nation.