Author

Kamara

Date of Award

8-1973

Degree Name

Master of Arts

Department

Political Science

Access Setting

Masters Thesis-Open Access

Abstract

The United Nations Capital Development Fund was established by the U. N. General Assembly under Resolution 2168 (XXI) of 13 December 1966. Its expressed purpose was to assist developing countries in the development of their economies by supplementing existing sources of capital assistance by means of grants and loans, particularly long-term loans made free of interest or at low interest rates.

More than its actual or potential role, the Fund has a symbolic meaning for the developing nations. To them, it represents the best hope of overcoming their problem of capital shortage. It symbolizes also the expected role of the rich countries of the world in sharing their wealth to alleviate poverty.

However, the Fund has failed to serve as a viable agency for the provision of capital on a world wide scale. Its failure can be attributed to the absolute refusal of the developed nations to lend financial support.

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