Promotion of the international flow of private capital

XIII. RESOLUTION ADOPTED ON THE REPORTS OF THE SECOND COMMITTEE
1318. Promotion of the international flow 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 multilateral arrangements in the field of capital investment, particularly the establishment of the International Finance 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 beneficial 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-developed countries, and section B of Economic and Social Council resolution 368 (XIII) of 22 August 1951 concerning the objective of achieving an expansion and steadier flow of private foreign capital, Welcoming the fact that a growing number of countries 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 appropriate and obtain the views of qualified persons, drawn from both capital-exporting and capital-importing 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 investment 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-developed 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 prepare a report concerning measures in operation or contemplated, both in capital-exporting and capital-importing countries, for the channelling of an increasing flow of private capital investment into the development of under-developed countries under mutually satisfactory arrangements;

3. Invites the Secretary-General to submit his report to the Economic and Social Council at its twenty-ninth session for transmission, with the Council's recommendations, to the General Assembly for consideration at its fifteenth session.

788th plenary meeting,
12 December 1958.
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