North American Development Bank Law and Legal Definition

North American Development Bank is a binational financial institution capitalized and governed equally by the United States of America and Mexico. It provides loans to communities in the United States which suffer economically from North American Free Trade Agreement (NAFTA) either through job losses or having to pay for environmental cleanups along the borders of Mexico and Canada. It also finance environmental projects certified by the Border Environment Cooperation Commission (BECC).

North American Development Bank is also known as NAD-Bank.