United Nations Special Fund

XXX. RESOLUTIONS ADOPTED ON THE REPORTS OF THE SECOND COMMITTEE
3460. United Nations Special Fund

The General Assembly, Recalling section X of its resolution 3202 (S-VI) of 1 May 1974 containing the Programme of Action on the Establishment of a New International Economic Order, Recognizing that the present economic situation of a large number of developing countries, in particular the most seriously affected among them, requires even, greater efforts on the part of the international community to help them overcome the effects of the economic crisis that had called for the establishment of the United Nations Special Fund, Recalling its resolution 3356 (XXIX) of 18 December 1974, in particular paragraph 1, article I, thereof, Bearing in mind that a number of countries have expressed their willingness to contribute to the United Nations Special Fund provided that it generates adequate funding, Considering that, with the agreement reached unanimously at its seventh special session whereby developed countries, and developing countries in a position to do so, were urged to make adequate contributions to the United Nations Special Fund with a view to an early implementation of a programme of lending, preferably in 1976, the prospects for the beginning of the operations of the Fund have been significantly improved,

1. Takes note of the report of the Board of Governors of the United Nations Special Fund on the work of its first session;[1]

2. Takes note with appreciation of the report of the President of the Board of Governors[2] on his contacts with various potential contributors to the United Nations Special Fund and with economic groupings and requests him to continue these efforts;

3. Authorizes the Board of Governors to convene a pledging conference on the United Nations Special in Fund in 1976;

4. Requests the Board of Governors to examine at its second session the establishment of a target figure of $1 billion for the United Nations Special Fund;

5. Decides that, for the time being, the administrative expenses of the United Nations Special Fund should be borne by the regular budget;

6. Agrees to the arrangements for the transfer of monitoring operations, envisaged in section X of General Assembly resolution 3202 (S-VI), made between the Secretary-General and the President of the Board of Governors, in pursuance of the decision taken by the Board at its first session.[3]

2436th plenary meeting
11 December 1975

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[1] Ibid., Thirtieth Session, Supplement No. 21 (A/10021), [2] Ibid., Thirtieth Session, Second Committee, 1665th meeting, paras. 1-8. [3] Ibid., Thirtieth Session, Supplement No. 21 (A/10021), annex I.