United Nations Revolving Fund for Natural Resources Exploration.

Takes note of the achievements of the UN Revolving Fund for Natural Resources Exploration and its ongoing efforts to assist developing countries in the exploration of their mineral and geothermal energy resources; welcomes further efforts made by the Fund to promote pre-investment follow-up of its successful mineral discoveries, in close co-operation with recipient Governments; takes note of the interest shown by an increasing number of Governments in co-financing specific projects of the Fund; takes note of the efforts of the Fund to expand the geographical distribution of its projects and to increase the variety of minerals being explored; requests that projects implemented by the Fund incorporate new techniques and provide appropriate opportunities by which developing countries can enhance their technical capacity for identifying, exploring for and assessing natural resources within the existing mandate of the Fund; requests the Fund to expand the use of locally available goods and services in the implementation of its projects; recognizes the urgent need to increase financial support for the Fund by means of voluntary contributions; requests the Administrator of UNDP to submit to the Committee on Natural Resources at its 12th session a report on the implementation of the resolution.

Adopted without vote, 12th meeting

Adopted at the 12th plenary meeting, 22 May 1989.
In: Resolutions and decisions adopted by the Economic and Social Council at its 1st regular session of 1989, 2-24 May 1989. - E/1989/INF/7. - 14 July 1989. - p. 28-29. - Issued in ESCOR, 1989, Suppl. no. 1.