An International Prize for World Development has been created by the King Baudouin Foundation. The Prize has been set up in deference to the wishes of H.M. the King of the Belgians. It will normally be awarded every two years and will be given for the first time in Autumn 1980, on the occasion of the 150th Anniversary of Belgium and to mark the 50th birthday of King Baudouin.

The King Baudouin Prize for International Development has been established to encourage individuals or organisations, irrespective of their nationality, who have made an important contribution to the development of the Third World and to the promotion of solidarity and good relations between industrialized and developing countries.

This prize is worth three million Beligan francs (about £50,000). As a rule the prize money will be granted to a single person or organization. It may exceptionally be split equally between several people.