• Short Summary

    At the United Nations Conference on Trade and Development (UNCTAD) in Nairobi, eight countries formally pledged contributions on Monday (24 May) to a proposed common Fund to finance commodity buffer stocks.

  • Description

    At the United Nations Conference on Trade and Development (UNCTAD) in Nairobi, eight countries formally pledged contributions on Monday (24 May) to a proposed common Fund to finance commodity buffer stocks.

    They included oil exporters Iran, United Arab Emirates and Kuwait, together-with Mexico, Zambia and Pakistan.

    Indonesia, which had announced support for the Fund earlier, said its contribution would be 25-million dollars (14-million sterling).

    Norway, the first industrial country to offer a specific sum to the Fund, said its contribution would also be 25-million dollars, subject to parliamentary approval.

    UNCTAD's target is 1,000-million dollars (570-million pounds sterling) to be raised by government subscription plus a further 2,000-million dollars (1,140-million pounds sterling) borrowed commercially.

    The Common Fund is at the core of an integrated programme backed by the developing countries and aimed at stabilising commodity markets to ensure that prices are fair to producers and consumers alike.

    SYNOPSIS: In Nairobi, Kenya, Mexico was among eight countries which pledged contributions on Monday to the proposed Common Fund to finance commodity buffer stocks.

  • Tags

  • Data

    Film ID:
    VLVA9L0FLPR2VQTTI33MOSLXRRG0O
    Media URN:
    VLVA9L0FLPR2VQTTI33MOSLXRRG0O
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    27/05/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:02:12:00
    Time in/Out:
    /
    Canister:
    N/A

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