Financing of Economic Development of Under-Developed Countries

A/RES/622(VII)[C]View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, under agenda item 25 Economic development of under-developed countries, published in 1953.

What else is in this group?

9 documents · 1951–1953

Year	Symbol	Title	Word length	Text similarity
1953	A/RES/622(VII)[C]	Financing of economic development of under-developed countries	—	–
1953	A/RES/622(VII)[B]	Financing of economic development of under-developed countries	—	–
1953	A/RES/622(VII)A-C	Financing of economic development of under-developed countries	—	–
1953	A/RES/622(VII)[A]	Financing of economic development of under-developed countries	—	–
1952	A/RES/520(VI)[C]	Financing of economic development of under-developed countries	—	–

This group bundles related documents that are not individually ordered.

What subjects does this mandate have?

6 subjects

Development Finance Economic Development Financial Flows Foreign Investments Private Enterprises Social Development

What’s in this document?

11 operative paragraphs

A/RES/622(VII) [C]

Recalling its resolutions 400 (V) of 20 November 1950 and 520 A (VI) of 12 January 1952,

Taking ""te of Economic and Social Council resolutions 294 (XI), section C, of 12 August 1950, 342

(XII) of 20 March 1951, 368 (XIII) of 22 August 1951 and 416 A (XIV) of 23 June 1952,

Notes with appreciation that the Secretary-Genera! has prepared a working paper • setting out alternative approaches to the establishment of a special fund for grants-in-aid and for low-interest, long-term loan:i. :to under-developed countries for the purpose of helpmg; them, at their request, to accelerate their economic development and to finance non-self-liquidating projects which are basic to their economic development;

Notes also that, for reasons beyond its control the Economic and Social Council was unable to submit to the General Assembly at its seventh session a de-

and Social Council.,, O/lieial R,e,,,.,u of IM G,,.m,J Auntbl:, Sftlfflllt Stssio,e, :n,P,lemnsl No, J.

' tailed plan for establishing such a special fund but that the Council, by resolution 416 A (XIV), has established a Committee for the purpose of drafting a detailed plan to be completed not later than 1 March 1953;

Requests the Council to submit to the General Assembly at its eighth session the detailed plan referred to in paragraphs 1 and 2 of General Assembly resolution 520 A (VI), including recommendations for a special fund for grants-in-aid and for low-interest, long-term loans, and to keep in mind that, especially in the present state of world tension, it is necessary to give special attention to the problem of international financing of economic and social development through international co-operation within the framework of the United Nations;

Requests the Secretary-General to place before the Committee appointed under Council resolution 416 A (XIV) the records of the discll5Sion on this subject at the fourteenth session of the Economic and Social Council as well as at the seventh session of the General Assembly ;

S.

Decides to include in the provisional agenda of its eighth session an item concerning the establishment of a special fund, with a view to considering practical methods for establishing the fund as soon as circumstances permit.

411111 ,i.,,..., ,uefflf{/,

21 Dece,nber 195Z.

B Tiu Gfflfflll Assembly,

Tuiltg note with satisfaction of the preliminary report I by the International Bank for Reconstruction and Development which had been requested by the Economic and Social Council, in its resolution 368

XIII

of 22 August 1951, to consider the potential contribution an international finance corporation could make to promote economic development through the financing of productive private enterprise in underdeveloped countries,

Recalling that the Economic abd Social Council, in its resolution 416 C (XIV) of 23 June 19S2, requested the International Bank for Reconstrudlion and Development to continue its examination of the proposal and, in the light of that further examination, to seek the views of its member governments on the desirability of establishing such a corporation, and to inform the Council during 1953 of the results of its

further examination of the proposal and the action it has taken concerning it,

Considering that the questions relating to the establishment of an international finance corporation have been discussed by the Economic and Social Council at several sessions, and that consultations are in progress with a view to defining more clearly. in what respects this proposal can be made practicable with the object of providing greater facilities for financing the ~- opment of under-developed countries,

Reaolutlom adopted ·on repol'la of dae Seeond C.Ommlttee

Looks forward to the early completion of their tasks by the International Bank for Reconstruction and Development and by the Economic and Social Council;

R1qu1sts . the Secretary-General to place at the disposal of the International Bank the records of the discussion on this subject at the seventh session of the General Assembly;

R1qt11sts the Economic and Social Council to report to the General Assembly at its eighth session on the progress made in regard to the proposal for the establishment of an international finance corporation.

21 December 1952.

C

Considering:

R,qu,sts the Secretary-General:

To include in an early future world economic report an' analysis of the international flow of private capital, including·the volume and direction of that flow as well a, the types and the fields of application of such investment and any reasons for the continued inadequacy of . such investment in under-developed countries, so as to facilitate the efforts of the Economic and Social Council in its formulation of constructive proposals ;

( b) To prepare a memorandum for the Economic and Social Council summarizing the work done, the studies conducted and the action taken, as referred to in sub-pa.ragrarhs ( b) and ( c) of the preamble to the present resolution ;

R,qwsu the Economic and Social Council,, in the coune of its conaideration of the que1tion of financing econqmic development in the light of the analylis and of the memorandum referred to in paragraph 1 above, to give attention-at an early session to the steps which the Unitec:l N•tions, the specialized agencies and the govenuaefltl of Member States might take to stimulate the iteadl flow into under-developed cotm- "1es o.f i?lttate capital in adequate amounts, 10 that it may effectively contribute to the harmonious and ade-

IS quate integration of the economies of those countries and to their economic and social development.

411th plenary m111ing,

21 Dec,mber 1952.

(AGDED BY THE EcoNOIIIC AND Soc;JAL CoUNCIL IN PAL\• GII.Al'H 4 OP ITS RESOLUTION 433 B (XIV))

Contributiom received for the third financial period lhall be allocated as follows:

(i) Fifty per cent of total pledges for 1953, up to but not exc_eeding $10 million, s~I be automatically available for allocation to the participating oraanizations in accordance with paragraph ~ (e)• of Council resolution 222 A (IX), as amended, out of the contributions received for the third financial perioc' ;

(ii) The balance of contributions received ■hall be retaiaed in the Special Account for further allocation, as provided in the resolution of the Technical Assistance Committee of 23 May 1952, approved by the Economic and Social Council an 11 June 1952 in resolution 433 A (XIV).

• Formerly parae--1131 (e). 1 See document t!J,

. This working paper is briefly delCribed in pararrapli 33S of the last report of the Economic 1 See document E/2215.