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Establishment of an African Development Bank: draft resolution submitted by the Congo (Brazzaville)

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UNITED NATIONS

Et~ONOMIC AND

SOCIAL COUNCIL

Distr.

Limited ElcN.14/L.66 14 February 1961 Original. FRENCH

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DOCUMENTS

OFFICE

FftE COP

Dovelopment Dank Establishment of an African

) 10 BE TAKEN OUT

DrRft Resolution submittod by Congo-(~&eSQ~"~ ~ ---_._---~-

---~c-;n-;-mic Commission for Africa Third Session

The Economic Commission fo~ Africa

Considering the capital noods of tho African States for the exocuticn ef thoir Jconomic dovelopmont programmo by ooncortod action in tho public and privato soctors;

Belioving that such action rOQuiros, in addition to bilatoral or multilateral aid, the availability of long-term crodits at low ratos of interest,

Considoring further that guarantoes by an international finanoial

instit~tionwould bo likoly to give confidonco to privato invostors

and st LmuLatc crvpd,t n I movomont to l..fricn;

Bolioving that an intornntional bank with regional oompotonoo limitod to ll.fricn would moot thoso rO'iuiroments;

1. Rocommends tho ostablishmen~ of an African developmont bank;

2. Requosts tho Executivo Socrotary to havo a study mado of this projoct by tho Socrvt~rint;

3. ROQuosts him furthor to bring tho matt or to tho attontion of tho Economic and Seci~l Council so that tho lattor may censult tho intornational institutions as to thoir intorost in such a projoct.

61-432

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