A/RES/1317(XIII) GA

Resolutions adopted on the reporl8 of the Second Committee 19 to take in order to advance their economic and social progress; 5. Requests the Secretary-General to compile the in- formation received pursuant to the above paragraphs in the form of an interim report for submission to the Eco- nomic and Social Council at its twenty-eighth session and a final report to the General Assembly at its four- teenth session for consideration under the item entitled "Economic development of under-developed countries", including a review of the financing of the economic de- velopment of the under-developed countries; 6. Requests the Economic and Social Council, during its review of the consolidated report of the five-year appraisal of the scope, trend and cost of the economic and social programmes of the United Nations, the Inter- national Labour Organisation, the Food and Agricul- ture Organization of the United Nations, the United Nations Educational, Scientific and Cultural Organiza- tion, the World Health Organization and the World Meteorological Organization, called for in Council reso- lutions 665 C (XXIV) of 1 August 1957 and 694 D (XXVI) of 31 July 1958, to give special consideration to the development needs of the less developed coun- tries and to ways in which such programmes can be more effectively organized to help meet these needs. 788th plenary meeting, 12 December 1958. 1317 (XIII). United Nations capital development fund The General Assembly, Bearing in mind the obligations assumed by the Gov- ernments of Member States under Articles SS and 56 of the Charter of the United Nations, Recalling previous resolutions of the General Assem- bly and of the Economic and Social Council on the establishment of a United Nations Fund for financing the economic development of the less developed coun- tries, Noting with satisfaction the establishment of the Special Fund, Noting however that the Preparatory Committee for the Special Fund expressed the hope that for the year 1959 an amount of at least $100 million would be avail- able for the operations envisaged in General Assembly resolution 1219 (XII) of 14 December 1957,10 Taking into account bilateral, regional and multi- lateral efforts to advance international co-operation in the field of financial assistance for the economic devel- opment of the less developed countries, Recognizing that financing the economic development of the less developed countries is one of the main world economic problems, Conscious of the urgent need to furnish financial as- sistance for the economic development of the less devel- oped countries, 1. Calls upon Member States to consider appropriate contributions to the Special Fund in order to achieve the volume of resources envisaged by General Assembly resolution 1219 (XII) ; 111 Official Records of the Economic and Social Council, Twenty-sixth Session, Annexes, agenda item 4, document E/3098, para. 23. 2. Urges Member States to continue working for the establishment of a United Nations capital development fund; 3. Decides to continue to review, as a separate sub- ject of its agenda, progress in the field of financing the economic development of the less developed countries, particularly progress towards the establishment of a United Nations capital development fund. 788th plenary meeting, 12 December 1958. 1318 (XID). Promotion of the international low of private capital The General Assembly, Reaffirming the need for a higher level of capital formation for the economic and social progress of the under-developed countries, Taking note of the expanding bilateral and multi- lateral arrangements in the field of capital investment, particularly the establishment of the International Fi- nance Corporation and the prospective increase in the resources of the International Bank for Reconstruction and Development, Confident that such arrangements contribute to a general improvement in the conditions necessary for an expanding flow of private capital for investment bene- ficial to under-developed countries, Taking into account its resolution 824 (IX) of 11 December 1954 on the international flow of private capital for the economic development of under-devel- oped countries, and section B of Economic and Social Council resolution 368 (XIII) of 22 August 1951 con- cerning the objective of achieving an expansion and steadier flow of private foreign capital, Welcoming the fact that a growing number of coun- tries have become increasingly conscious of the need to improve the international climate in relation to both existing and prospective private investment, Stressing the need for increased knowledge and better understanding of the conditions of and opportunities for international investment, 1. Requests the Secretary-General to consult as ap- propriate and obtain the views of qualified persons, drawn from both capital-exporting and capital-import- ing countries, regarding: (a) The fields of activity in which foreign private investment is needed and sought by under-developed countries and the volume and forms in· which such in- vestment would be acceptable; ( b) The types of projects-including, where possible, specific examples-which private foreign investors may be interested in financing or undertaking in under-de- veloped countries in suitable circumstances; 2. Further requests the Secretary-General, drawing on the views of the qualified persons concerned and taking into account other available information, to pre- pare a report concerning measures in operation or con- templated, both in capital-exporting and capital-import- ing countries, for the channelling of an increasing flow of private capital investment into the development of under-developed ~::>untries under mutually satisfactory arrangements;

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