26 May 1987

14th Plenary Meeting

United Nations Revolving Fund for Natural Resources Exploration

The Economic and Social Council,

Recalling General Assembly resolution 3167 (XXVIII) of 17 December 1973 and Economic and Social Council resolution 1762 (LIV) of 18 May 1973, concerning the establishment of the United Nations Revolving Fund for Natural Resources Exploration,

Recalling also General Assembly resolution 33/194 of 29 January 1979 on multilateral development assistance for the exploration of natural resources,

Recognizing the importance of the Fund as an effective instrument for assisting developing countries in the development of their natural resources,

Expressing concern at the very limited financial capacity of the Fund to fulfil its mandate,

1. Takes note of the achievements and continuing efforts of the United Nations Revolving Fund for Natural Resources Exploration in the fields of mineral and geothermal energy exploration;

2. Welcomes the further efforts of the Fund to promote pre-investment follow-up to its successful mineral discoveries, in close co-operation with recipient Governments;

3. Recognizes the urgent need to increase financial support for the Fund by means of voluntary contributions so that it may fulfil its mandate;

4. Welcomes the further efforts made by the Fund to seek co-financing partners as a means of expanding its immediate funding capacity to meet the demands for projects.