Having considered the report of the United Nations Conference on the Human Environment,/51

Concerned with the lack of improvement in the deplorable world housing situation, particularly the critical shortage of low-cost housing or minimal standards of housing in developing countries,

Aware that the environment cannot be improved in conditions of poverty, one of the palpable manifestations of which is the substandard quality of human settlements, particularly in developing countries,

Recognizing the need for intensified and more concrete international action to strengthen national progranunes in the planning, improvement and management of rural and urban settlements, thereby narrowing the growing gap between housing needs and available supply and improving the environmental quality of human settlements,

Noting the report of the Secretary-General entitled Proposals for Action on Finance for Housing, Building and Planning,/52

Recalling Economic and Social Council resolutions 1170 (XLI) of 5 August 1966 and 1507 (XLVIII) of 28 May 1970 on a proposed international institution to support domestic savings and credit facilities in housing,

Noting in particular recommendation 17 of the Action Plan for the Human Environment,/3 adopted by the United Nations Conference on the Human Environment, that Governments and the Secretary-General should take immediate steps to establish an international fund or financial institution that would provide seed capital and technical assistance for the effective mobilization of domestic resources for housing and the environmental improvement of human settlements,

1.Endorses in principle the establishment of an international fund or financial institution for the purpose envisaged in recommendation 17 of the Action Plan for the Human Environment;

2.Requests the Secretary-General, taking into account the views expressed on this subject at the twenty-seventh session of the General Assembly, to prepare a study on the establishment and operations of such a fund or institution, together with his recommendations and proposals, and to report thereon to the Assembly at its twenty-ninth session through the Governing Council of the United Nations Environment Programme and the Economic and Social Council:

3.Invites the International Bank for Reconstruction and Development to collaborate in the preparation of the study referred to in paragraph 2 above,

2112th plenary meeting
15 December 1972