Net Flows and Transfer of Resources Between Developing and Developed Countries

A/RES/51/165No PDF available

Who created this mandate?

A Resolution of the General Assembly, under agenda item 94bFinancing of development, including net transfer of resources between developing and developed countries, published in 1997.

What subjects does this mandate have?

16 topics

Bretton Woods Institutions Capital Movements Commodity Markets Development Assistance Development Credits Development Finance External Debt Financial Flows Foreign Direct Investment International Monetary System Least Developed Countries Multilateral Trade Negotiations Reverse Transfer of Resources Sustainable Development Trade Facilitation Trade in Commodities

What does this mandate say?

8 operative paragraphs

Stresses the need to increase efforts to ensure the flow of substantial resources to developing countries through, inter alia, an expansion of multilateral credits, the promotion of foreign direct investment and an increase in concessional and non-debt resources;

Also stresses that private capital flows are an important external source of financing for sustainable development and that attracting such investment requires, inter alia, sound fiscal and monetary policies, accountable governmental institutions and transparent legal and regulatory regimes;

Reaffirms the pressing need of developing countries for official development assistance, especially those in Africa and the least developed countries, and urges countries to strive to fulfil, consistent with commitments in international agreements, the agreed target of 0.7 per cent of the gross national product of developed countries for official development assistance to the developing countries, and the target, where agreed, of 0.15 per cent of the gross national product of the developed countries for official development assistance to the least developed countries as soon as possible;

Stresses the need to mobilize public support for development cooperation, inter alia, through a strategy based on partnership between developed and developing countries which incorporates, as appropriate, mutually agreed goals for development;

Also stresses the importance of the role of the International Development Association as a highly concessional lending arm of the World Bank for promoting development in eligible developing countries, and urges donors fully to honour their commitment thereto, in particular to the eleventh replenishment of the Association, and to secure its adequate future funding;

Appeals to all countries to continue to cooperate and work together on issues relating to the Enhanced Structural Adjustment Facility, with a view to arriving at a self-sustained facility, including the provision of bilateral contributions; if the need arises, the International Monetary Fund should consider optimizing its reserves management in order to facilitate financing of the Facility;

Urges all international financial institutions and donor countries, as appropriate, to continue their own efforts to improve the quality and effectiveness of their lending, inter alia, through thorough assessment of the contributions to sustainable development of projects financed, effective monitoring and evaluation, and increased concessionality, where appropriate;

Requests the Secretary-General to continue to monitor developments in the net flows and transfer of resources between developing and developed countries and to utilize all relevant reports, such as those provided by the United Nations Conference on Trade and Development, the World Bank, the International Monetary Fund and the regional development banks, and to report thereon in the World Economic and Social Survey, 1997, and also requests the Secretary-General to report, in close cooperation with the United Nations Conference on Trade and Development and the Bretton Woods institutions, to the General Assembly at its fifty-third session on the implementation of the present resolution.

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