Consideration of commission resolution 52(IV): provisional agenda, item 4

Abstract

The Economic Commission for Africa pointed out that the execution of economic development programmes by concerted action in the public and private sectors necessitated, in addition to bilateral or multilateral aid, the availability of long-term credits at low rates of interest. In the belief that an international financial institution with regional competence limited to Africa would serve this purpose, the Commission adopted resolution 27(III) requesting the Executive Secretary to undertake thorough study of the possibility of establishing an African Development Bank and to report to the Commission at its next session.