Borrowing Authority of the Administrator of the United Nations Development Programme

A/RES/31/165View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, under agenda item 59a United Nations Development Programme, published in 1977.

What subjects does this mandate have?

4 subjects

Development Finance Funds Loans Trust Funds

What’s in this document?

5 operative paragraphs

Authorizes the Governing Council of the United Nations Development Programme to grant to the Administrator of the Programme, until the end of 1977 and on a case-by-case basis, authority to borrow moneys for the purpose stated above and subject to the conditions and specifications indicated below:

In order to borrow, the Administrator shall in each case seek the prior approval of the Governing Council at a regular or special session;

The sources from which such funds can be ( b) borrowed are limited to voluntary-funded trust funds of organizations within the United Nations system, provided that the borrowing of such moneys shall be made with the agreement, where appropriate, of the executive directors of the voluntary funds and shall in no way adversely affect the operations of the trust funds to which the moneys have been contributed or the speedy implementation of the programmes concerned, it being understood that borrowings shall be made, in the first instance, from trust funds under the aegis of the Governing Council;

( c) The Governing Council shall only grant borrowing authority to the Administrator as an exceptional measure, if, after a thorough examination of the financial situation of the Programme on the basis of comprehensive information provided by the Administrator, it is satisfied of the need to borrow and is satisfied also regarding the repayment schedules of the anticipated borrowings; such comprehensive information shall include particulars of the status of assessed programme costs, of voluntary contributions, including the status of accumulated currencies and shared programme costs, of accounts payable and of cash require-

Sixtv-first Session, Supplement No. 2A (E/5846/Rev.1 ), paras.

ments for completing first-cycle programmes and initiating second-cycle programmes, including allocations to programme and administrative support costs and agency overheads;

Such borrowings shall not be used as a means to raise additional funds for the Programme over and above the pledged voluntary contributions and other approved income for any one year;

( e) Repayments shall be made only from the funds voluntarily contributed to the Programme and shall be effected within 60 days of the borrowing;

If possible, borrowing should be free of interest, but if there is a need to pay interest the rate paid should be the lowest possible and in no case higher than that paid by the World Bank for its shortterm borrowing and, to the extent possible, the interest shall be paid from earned interest;

Authorizes the Secretary-General to lend moneys to the United Nations Development Programme from appropriate voluntary trust funds in his custody for the purpose and under the conditions specified in paragraph 1 above, on the understanding, however, that in all such cases a consensus decision of the Governing Council of the Programme shall be required.

76 Official Records of the General Assembly, Thirty-first 79 Official Records of the Economic and Social Council, 77 Ibid., part two, paras. 20-22. 78 See A/10112, chap. IV.

46-51.

so Ibid., Fifty-ninth Session, Supplement No. 6 (E/5698).

Who adopted this document and its mandates?

What subjects does this mandate have?

What’s in this document?

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