Corporate Policy Papers
UNCDF and the United Nations General Assembly
General Assembly --- Twenty-eight Session
3122 (XXVIII). United Nations Capital Development Fund
The General Assembly,
Recalling its resolution 2186 (XXI) of 13 December 1966 by which it established the United Nations Capital Development Fund,
Further recalling resolution 62 (III) of 19 May 1972 of the United Nations Conference on Trade and Development, which sets forth a very important programme for international action in favour of the least developed among the developing countries, and particularly paragraph 44 of that resolution concerning the feasibility of using the United Nations Capital Development Fund first and foremost for the least developed among the developing countries,
Noting the study on the desirability and feasibility of establishing a special fund for the least developed among the developing countries, prepared by the Secretary General in response to Economic and Social Council resolution 1710 (LIII) of 28 July 1972, as well as the note by the Secretary General on the institutional arrangements for the implementation of special measures in favour of the least developed among the developing countries, prepared in response to paragraph 1 of Council resolution 1753 (LIV) of 16 May 1973,
Reaffirming the provisions of its resolution 2186 (XXI), in particular those contained in articles I, II and III relating to the purpose, guiding principles and general economic provisions of the United Nations Capital Development Fund,
Reaffirming the need for a reorientation of the United Nations Capital Development Fund as a capital-providing fund first and foremost for the least developed among the developing countries,
Considering that the United Nations Capital Development Fund could most effectively be used in complementing the technical assistance and pre-investment activities of the United Nations Development Programme, as well as the investment activities of existing international financial institutions, inter alia, in support of those development and investment activities that would build and strengthen the economic and social infrastructure of these countries, including in particular in the fields of integrated rural development and small-scale industries,
Taking into account that the United Nations Capital Development Fund is not only a means for co-operation between developed and developing countries but als an instrument for co-operation among developing countries themselves, and that such co-operation among developing countries could be further promoted and strengthened,
1. Welcomes the decision of the Governing Council of the United Nations Development Programme that the United Nations Capital Development Fund should be used to serve first and foremost the least developed among the developing countries, and further welcomes the efforts made so far in implementing this decision by the Administrator of the Programme;
2. Reaffirms Economic and Social Council resolution 1753 (LIV), in particular paragraphs 2, 3 and 4 thereof, and Council resolution 1754 (LIV) of 16 May 1973;
3. Requests the Secretary General to invite the Administrator of the United Nations Development Programme, in consultation with the agencies and organizations of the United Nations system concerned, to continue to consider further ways and means of using most effectively the resources of the United Nations Capital Development Fund first and foremost for the benefit of the least developed among the developing countries and to report on the matter, including the administrative arrangements, to the Governing Council of the United Nations Development Programme at its eighteenth session, taking into account the views expressed during the consideration of this item at the current session of the General Assembly;
4. Further requests the Secretary General and the Administrator of the United Nations Development Programme to submit to the General Assembly at its twenty-ninth session, through the Economic and Social Council at its fifty-seventh session, a report on the implementation of paragraph 3 above;
5. Welcomes the increasing trend towards support for the expansion of the activities of the United Nations Capital Development Fund and calls upon Member States and especially the developed countries, particularly in the light of the new orientation of the Fund, to provide substantial voluntary contributions to the Fund so as to make it fully operative and effective;
6. Decides to preserve the original functions of the United Nations Capital Development Fund until 31 December 1974, in accordance with the measures set forth in paragraph 1 of General Assembly resolution 2321 (XXII) of 15 December 1967.
2199th plenary meeting
13 December 1973
