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C. Proposal by the director-general on a world food security policy
116. The Conference had before it a proposal of the Director-General for a world food security policy, which had been prepared for its consideration at the request of the Council. Some aspects of this proposal had received preliminary consideration in the CCP, in some other FAO bodies, in the Intergovernmental Committee of the WFP, the International Wheat Council, and in the Economic and Social Council of the United Nations.
117. The Conference agreed that the Director-General's proposal was a timely initiative in view of the widespread concern over the depletion of world food stocks. Il recognized that the problem of world security against food shortages had become increasingly serious because of important changes in the world cereal situation. Following unfavourable crops in several regions, cereal stocks had been drawn down to levels which gave no assurance of adequate supplies to meet world demand in the event of further crop failures or natural disasters. As the Council had noted, there was at present no international concept of a minimum safe level of basic food stocks for the world as a whole.
118. The Conference considered that world food security had many facets. Adequate food stocks in producing and consuming countries were an essential, but not the only, element. World food security also involved international aid to promote food production in developing countries, as well as the provision of food aid. More generally, it was necessary that the world's farmers were assured of reasonable and adequate returns so as to bring supplies into better balance with demand. Long-term bilateral trade agreements, and forward contracting commitments between exporting and importing countries, could also contribute, under certain conditions, to world food security. Other approaches could include commodity agreements which could contain, inter alia, stockholding provisions.
119. The key to the basic food security problem in many developing countries was the expansion of the food productive capability to levels which would be sufficient not only to meet the growing consumption requirements, but also to build up adequate national stocks from domestic resources. National stock policies, which were often important in efforts to promote production by stabilizing farm prices and incomes at reasonable levels, had an essential role to play in offsetting variations in output and in providing a regular flow of supplies to consumers. The link between food security and food aid was also stressed, especially in view of the problem of financing the food purchases of developing countries in periods of crop failure, and of maintaining continuity of food aid programmes even in times of severe world shortages.
120. The Conference agreed that it was a common responsibility of the entire international community to ensure the availability at all times of adequate world supplies of basic foodstuffs so as to sustain a steady expansion in consumption and offset fluctuations in production and prices. It noted that the Director-General's proposal aimed at achieving a minimum level of world food security through an undertaking by all countries to follow appropriate national stock policies which, while adapted to the circumstances of each country, would contribute towards the common objectives of securing a safe level of global stocks. This emphasis on national, rather than international stocks, combined with a system of consultations and improved information, as explained below, was supported by the Conference.
Recognizing that national agricultural policies and conditions of production chiefly determine what happens to international trade in farm products, and that interrelated adjustments in agriculture must take place at farm, national, regional and global levels.
Reaffirming the recommendation of the Sixteenth Conference Session that the concept of agricultural adjustment was broader than trade and that international agricultural adjustment should have as a primary objective the adoption of measures which would meet the special requirements of the developing countries.
Noting with appreciation that the Eighth Regional Conference for Europe had concluded that the agricultural and trade policies of developed countries generally should pay attention to enlarging the agricultural export opportunities, particularly for developing countries in all regions,
Considering that the serious imbalances and fluctuations in the world food and agriculture economy in 1972 and 1973, from which both developed and developing countries have suffered, dramatically illustrate the need for new international approaches.
Affirming that in view of the increasing interdependence of the economies of individual countries a global concept of agricultural adjustment is essential to ensure that national agricultural adjustment policies can be so designed as to promote a balanced global expansion of agricultural production and trade,
Taking note of studies on international agricultural adjustment submitted by the Director-General to its Seventeenth Session,
2. Agrees further that close international cooperation would be necessary in order to permit or to facilitate the attainment of the following objectives of international agricultural Adjustment:
(b) a better balance between world supply and demand of agricultural products with more orderly expansion of food production and consumption and greater security in the availability of food, in adequate quality and quantity to all consumer groups taking account of the need for a more rational use of world food and agricultural resources, both input and output.
(c) an orderly acceleration of trade in agricultural products, with greater stability in prices and markets,
(d) a rising share for developing countries in a general expansion of agricultural trade,
3. Resolves that the Organization should evolve a proposed strategy of international agricultural adjustment based on these objectives,
4. Requests the Director-General to prepare a draft of such a proposed strategy of international agricultural adjustment including guidelines, indicators and arrangements for periodic review and appraisal of progress. The views of the FAO Regional Conferences and of other competent agencies should be drawn upon, in particular UNCTAD and the GATT with respect to trade matters,
121. In view of the important role played by national stocks in achieving world food security, the Conference agreed on the usefulness of regular intergovernmental consultations to keep the adequacy of world food stocks under continuing review, and to advise governments on action considered necessary to deal with any difficulties which arose in safeguarding world food security.
122. Within the context of the draft undertaking to be submitted to governments, the Conference also agreed on the value of developing voluntary guidelines for national food stock policies, it being understood as a framework within which each country would develop its own policies according to its circumstances. Bearing in mind the serious problems which had arisen in the past owing to the accumulation and disposal of agricultural surpluses, it was recommended that adequate safeguards should be adopted to avoid the implementation of food stock policies having adverse repercussions on the structure of production and trade of all countries concerned, but paying particular attention to the interests of developing countries heavily dependent on food exports.
123. The Conference agreed on the need to strengthen the system of assembling and analysing timely information on food crop production, demand and stocks, as well as to improve methods of forecasting the market outlook as a prerequisite for timely remedial action, and it was considered that the FAO Early Warning System for Food Shortages should be extended to cover all countries having a significant impact on the world food situation.
124. The Conference felt that it was necessary to associate the International Wheat Council with the consultations and the information system, especially bearing in mind the need to avoid duplication. The Executive Secretary of the International Wheat Council (IWC) informed the Conference that the IWC was ready to cooperate closely in all aspects where it could make a contribution.
125. The Conference strongly supported the need for additional international assistance, as envisaged in the Director-General's proposal, so as to enable developing countries to participate effectively in a world food security policy, in accord with their national priorities. It also stressed that any significant transfer of the financial burden of stock holding from developed to developing countries might affect the resources available for direct investment in development programmes, and that, therefore, this should be taken into account in formulating food security policies.
126. Delegates of several countries pointed out that their governments were providing food aid as well as economic and technical aid in grain storage and production, and some were willing to extend such aid further in future The Conference welcomed this, as well as the general readiness of international and regional development agencies to assist developing countries in implementing their food security policies, as indicated at an inter-agency meeting convened by the Director-General on 21 September 1973 to discuss technical and financial assistance to developing countries with a view to their effective participation in a World Food Security Policy. The Conference noted with satisfaction the results of this meeting and it urged the Director-General to continue to foster an inter-agency approach in this field A variety of resources would be required, including finance, food aid, technical assistance, as well as the provision of essential inputs. In this connexion it was stressed that such aid should be provided on very favourable terms, in view of the already heavy burden of debt-servicing, and that assistance to stock programmes should not unduly curtail direct investment in food production.
127. Attention was also drawn to the serious resource constraints on the World Food Programme, and the Conference considered that it would be contradictory to support the aims of world food security without assuring sufficient resources to maintain the continuity of WFP's programme. The Conference agreed that the WFP had an important role to play and that governments should, therefore, consider making additional pledges to WFP to enable it to play a more significant role in assisting developing countries to achieve food security in general and for emergency relief operations in particular.
128. The basic objectives and principles of the proposed international action on world food security proposed by the Director-General were endorsed by the Conference. A number of questions on the practical implementation of the proposal were raised which, it was felt, should be clarified, including issues relating to the source of finance and distribution of costs, the distinction between the emergency relief and price stabilization purposes of stocks, ways of insulating emergency reserve stocks from normal commercial trade, possible criteria to govern the release of stocks, the safeguards against market disruption referred to in paragraph 122 above, the location of stocks, methods of measuring the adequacy of stocks, and a clear definition of the international aid that might be involved.
129. A number of delegates described the action their governments were already taking to establish or strengthen rational stock policies in the light of the changed world food position. Attention was drawn to the possibility of financial economies through maintaining regional food reserves, or cost sharing arrangements between neighbouring countries, and it was suggested that further study should be made of the feasibility of regionally-organised reserve stocks. Some delegates considered there was also a need for national efforts to be supplemented by an international food reserve for use in emergencies and in helping to stabilize prices.
130. As regards commodity coverage, for practical reasons it was recognized that there would be advantages in limiting consideration to cereals in formulating a world food security policy, and the importance of rice to the food security of developing countries was stressed. Some delegates felt that it would be useful to consider eventually extending the coverage of the system to ether basic food products such as legumes and milk products. Some delegates indicated that they were prepared to consider holding stocks of closely related protein rich foods, including legumes and milk products, as a contribution to a world food security policy.
131. The Conference recommended that the draft international undertaking proposed by the Director-General should be thoroughly examined by government representatives with a view to preparing an agreed text for adoption by governments at the earliest possible date. In this connexion, it stressed the importance of the active participation by all major cereal producing and consuming countries, including non-member nations of FAO, in the consideration and implementation of a world food security policy.
132. The Conference adopted the following Resolution:
WORLD FOOD SECURITY
THE CONFERENCE,
Expressing serious concern over the depletion of world food stocks in 1972-73, the dangers this would pose to consumption levels in the event of further large-scale crop failures, and the inadequacy of present international arrangements for reviewing and assuring the security of the world's food supplies which this situation has brought to light,
Welcoming the timely initiative of the Director-General in drawing up proposals for a world food security policy,
Affirming that the entire international community has a common responsibility to ensure the availability at all times of adequate world supplies of basic foodstuffs, primarily cereals, so as to sustain a steady expansion of consumption and to offset fluctuations in production and prices,
Recognizing that food security needs to be tackled from many sides, including national and international action to strengthen the food production base of developing countries, food aid programmes, and appropriate national stock policies,
Noting the positive role which can he played by other international and regional development agencies and appreciating their readiness to contribute actively to achieving the objectives of world food security as expressed by the Executive Heads of these agencies,
1. Endorses the basis principles and objectives of international action on world food security as outlined in the attached Annex, and commends it to the serious attention of all nations,
2. Requests the Director-General to convene a working party open to all governments having a substantial interest in the production, consumption, and trade of cereals to review the attached draft undertaking with a view to preparing a revised text for consideration by the Forty-Ninth CCP session, and adoption by governments at the earliest possible date, and authorizes the Director-General to invite interested non-member nations which are members of the United Nations and of its specialized agencies or the International Atomic Energy Agency to attend the Forty-Ninth Session of the CCP and to participate in its consideration of the revised text,
3. Requests the Director-General to transmit the text as adopted by the CCP and the Council to all Member Nations and Associate Members inviting them to signify their readiness to adhere to it, and to non-Member Nations of FAO with a substantial interest in world cereals production, consumption and trade, drawing attention to the importance of universal participation, and requesting their cooperation in promoting its aims, end further to inform the World Food Conference, if convened by the General Assembly, or the Eighteenth Session of the FAO Conference, of the progress made in this direction and of the nations which have accepted it,
4. Requests the Council, in keeping with its special responsibilities relating to world food problems and programmes, to review the situation as reported by governments regarding their national stock policies; to advise on further action considered necessary; and to initiate, with the assistance of the CCP, the Intergovernmental Groups on Grains and Rice, and the International Wheat Council, regular evaluations of the current and prospective world cereals stock position in the light of the objectives of world food security,
5. Invites all interested countries to give additional assistance to developing countries in strengthening their food production capabilities, and in establishing national food reserves as appropriate, according to their priorities and their resources,
6. Invites the Executive Heads of other international and regional agencies to pay special attention to the objectives of world food security in their respective fields of operation and to cooperate with FAO to the fullest extent possible in this regard,
7. Requests the Director-General, in cooperation with other interested international and regional development agencies, to assist interested developing countries in formulating appropriate food security policies and in identifying and mobilizing the resources required,
8. Further requests the Director-General to establish a comprehensive food information system, through a strengthening of the present arrangements, for assembling, analysing and disseminating information on the current world cereals situation and outlook, and on national stocks and stock policies, drawing upon the work already under way in the International Wheat Council.
(Adopted 27 November 1973)
ANNEX TO RESOLUTION 3/73 ON WORLD FOOD SECURITY
Draft International Undertaking on World Food Security
I. Common Purpose and responsibility
1. Recognizing that the assurance of a minimum level of world food security is a common responsibility of the international community, member governments undertake to cooperate in ensuring the availability at all times of adequate cereal supplies in the world so as to avoid acute food shortages in the event of widespread crop failures or natural disasters.
2. To this end, member governments undertake:
(a) To follow national stock policies which, in combination, maintain at least a minimum safe level of basic food stocks for the world as a whole;
(b) To review or establish national stock targets or objectives with the aim of maintaining national stocks at least at the levels regarded as necessary for ensuring continuity of supplies to meet domestic and where appropriate export requirements, including a security margin for contingencies or emergency needs in case of crop failure or natural disaster;
(c) To take measures to ensure national stocks are replenished whenever they have been drawn down below such minimum levels to meet food shortages.
3. Governments of countries where there are no publicly-owned food stocks undertake to ensure that private stock-holdings perform the functions required by the community in accord with the objectives of minimum world food security.
II. National stock guidelines
4. In reviewing current national stock policies and desirable minimum stock levels, and in establishing or adjusting such policies, account should be taken of the following considerations:
(a) Vulnerability to crop failure owing to drought, floods or other natural hazards, and extent of resulting shortfalls in national cereals output.
(b) The size of and trend in normal annual requirements for domestic consumption and, where applicable, for export including commitments under long-term bilateral contracts.
(c) The degree of dependence on imports of cereals in normal conditions and the scale of possible emergency import requirements in relation to the average level of world trade of the product concerned.
(d) The period of time required for imports to be arranged and delivered to the country in periods of emergency or sudden domestic shortage, and for internal transportation to centres of consumption.
(e) The period of time likely to be required to expand cereal production sufficiently to replenish stocks if these are drawn down to meet food shortages.
(f) The proportion of national supplies entering commercial market channels.
(g) The requirements of any government distribution programme of foodgrains
(h) The desirability of locating stocks in A manner and place which ensure that the cereals are available for delivery when and where they are most likely to be required.
(i) Pledges to WFP and other international food aid programmes and allocations for bilateral food aid programmes.
(j) Maintaining a regular flow of supplies to meet foreseeable variations and likely trend in demand from importing countries.
(k) The possibility of an interruption in the flow of imported supplies by events outside the government's control (e.g. dock strike in exporting country, shipping difficulties).
(l) The special position of developing countries, as set out in V below.
5. The special difficulties of a number of developing countries in maintaining national stocks at desirable minimum levels place an added responsibility on the rest of the international community for ensuring world food security. Governments should take this into account in fixing their stock targets or objectives, and should where possible earmark stocks or funds for meeting international emergency requirements.
III. Intergovernmental consultations
6. The adequacy of world cereal stocks to meet minimum needs should be kept under continuing review, so that timely action can be taken to maintain a minimum level of world food security. For this purpose, the Council, in keeping with its responsibilities for reviewing the world food position, shall:
(a) Make periodic evaluations of the adequacy of current and prospective stock levels, in aggregate in exporting and importing countries, for assuring a regular flow of supplies of cereals to meet requirements in domestic and world markets, including food aid requirements, in times of short crops and serious crop failure; account should be taken of the considerations set out in the guidelines.
(b) Advise governments on such short-term policy action as considered necessary to remedy any difficulty foreseen in assuring adequate cereal supplies for minimum world food security.
(c) Provide a mechanism for contingency planning in periods of severe world shortage, so as to be in a position to advise on whether any special joint action is necessary to arrange an orderly allocation of food supplies In such situations, the Council may institute arrangements designed to ensure that priority is given to the urgent import requirements of developing countries for current human consumption
7. To assist it in performing these functions, the Council should make full use of the expertise of existing specialized bodies and especially the Committee on Commodity Problems, the Intergovernmental Group on Grains, and the Intergovernmental Croup on Rice. Close cooperative arrangements should be sought with the International Wheat Council and, if appropriate, joint consultative machinery should be established.
IV. Information System
8. The effective functioning of the world food security system will depend greatly on the availability of timely and adequate information. Member nations should furnish on a regular basis all the information required and in particular on national stock levels, government stock-holding programmes and policies, current and prospective export availabilities and import requirements for cereals, and relevant aspects of the supply and demand situation.
9. To keep all member nations directly informed of current developments in the international cereals position during periods when world supplies are scarce the Director-General should prepare, on a quarterly basis or more frequently, concise factual appraisals of the situation and outlook which should be circulated promptly to governments.
10. In the assembly and analysis of information and statistics, the secretariat should seek the assistance of the International Wheat Council and other international organizations concerned.
V. Special assistance to developing countries
11. Although there is a special need for stock-holding in developing countries because they are highly vulnerable to crop fluctuations and food scarcities, most of such countries have to give priority in the allocation of their scarce foreign exchange and domestic capital resources to investment in agricultural production. Before deciding to strengthen existing stock-holding through the establishment of minimum food reserves, therefore, it is desirable for such countries to review their overall food policies and the various alternative courses they might follow within the context of national development priorities, and international assistance programmes It is also recognized that some of the major exporting countries of grains and especially rice are developing countries which lack the capital resources required to maintain stocks beyond current requirements,
12. Continued reliance would therefore need to be placed on bilateral food aid programmes and the World Food Programme for meeting unforeseen shortages and emergency situations.
13. International assistance has an important role in providing financing and food aid, in research on the development of storage facilities suited to conditions in developing countries, and in furnishing advice on stock and related policies within the context of national development programmes Interested countries, and especially developed countries, as well as the international and regional development agencies concerned, are invited to give additional assistance in identifying and mobilizing the resources required by developing countries for their food storage programmes
14. As regards the WFP in particular, the degree to which it can assist developing countries by providing food aid for national reserves is severely restricted by its resource position. Where possible, therefore, governments should make additional resources available to the WFP or special pledges for this purpose, so as to permit it to play a more significant role in efforts to maintain world food security.
VI. Necessary Safeguards
15. Bearing in mind the serious problems which have arisen in the past owing to the accumulation and disposal of large agricultural surpluses, full consideration should be given by governments to the possible repercussions on the structure of production and trade which might arise from implementing the world food security policy. The agreed international strategy of the Second Development Decade should be borne in mind. In particular, the world food security policy should be seen as an element of international agricultural adjustment and must not be allowed to overshadow the importance of price adjustments, of policies of full employment and of economic development, of less restrictive trade policies and of the discouragement of uneconomic production as basic means of dealing with the problem of surpluses.
16. To this end:
(a) All countries should endeavour to arrange their national food stock policies in ways which avoid adverse effects on the structure of production or international trade, paying particular attention to the interests of developing countries heavily dependent on food exports.
(b) If special governmental action is required to raise production in order to replenish stocks to desirable levels, appropriate production adjustment measures of effective action to regulate economic incentives to production should be taken to avoid an over-accumulation of stocks.
(c) Food aid provided for national reserve projects should be granted in accordance with the FAO Principles of Surplus Disposal and the procedures for consultations and reporting recommended by the Council.
133. The Conference had before it a proposed resolution submitted by the Sixty-First Council Session concerning the establishment of a pledging target of $440 million for the World Food Programme (WFP) during the period 1975-76. The Conference noted that a similar resolution had been approved by the ECOSOC and submitted to the United Nations General Assembly.
134. The Conference heard a statement from the Executive Director setting forth the reasons why the pledging target had been established at that minimal level. He said that at the end of June the price of cereals - the Programme's main commodity - had begun to rise rapidly. By mid-August, when prices had more than doubled, it became obvious that the Programme's projections for the current biennium until the end of 1974 must he revised. New calculations showed that the Programme would be able to obtain little more than half of the 1.2 million ions of commodities, mostly cereals, needed for ongoing and new projects at the end of 1974. He outlined various measures, including priorities, which the Intergovernmental Committee (IGC) had approved on his recommendation, to reduce commitments. Most of the savings had been effected by postponing the signing of an estimated $100 million worth of projects previously approved by himself and by the IGC in April 1973 and October 1972. In this connexion the Executive Director referred to some "important and economically viable" projects in India, Nigeria and Pakistan.
135. The Executive Director said that according to a recent indication from the EEC a pledge of dried skimmed milk, butter and butter oil was being examined and this gave some hope that the Programme might be able to initiate some of the approved projects which were presently suspended, thus avoiding total stagnation during the rest of the biennium. He said that although the Programme should expect periods of ups and downs, there must be a minimum assurance that resources would be forthcoming in spite of fluctuations on world markets and other contingencies.
136. He stated that because of the price rises he had outlined, protections showed that about $650 million would now be required to finance the Programme's activities as planned in April 1973, when the target was first proposed. In view of this the $440 million target figure should be regarded as a minimum. He hoped that at the Pledging Conference in New York on 4 February 1974 Member Nations would surpass the target figure. He urged donors to come forward with supplementary pledges as the world food supply situation improved.
137. He indicated that WFP supported any measures or actions taken to improve food production and distribution in the world. He hoped the Programme would be given the opportunity of full participation in the proposed World Food Conference in 1974,
138. In the discussion that followed, delegates expressed appreciation for the development and humanitarian roles WFP had played during the first ten years of its existence. There was general endorsement of the Programme's activities: the delegates expressed a desire for its expansion in order to fulfil its important role. The Conference recognized the difficulties confronting the Programme by reason of the current shortages in the Programme's resources and appreciated the able manner in which the Executive Director was handling the situation. One delegate announced an additional pledge in respect of the 1973-74 biennium, while two others indicated additional resources in support of emergency food operations in two developing countries.
139. Delegates said that the Programme could not continue to live on occasional surpluses. The Conference requested the IGC to study practical ways and means of insulating WFP from the fluctuations of the world commodity market, and to inform the FAO Council as to the success of its task.
140. The Conference felt that if, in the context of the plan for World Food Security stocks, international or regional food reserves were established, WFP should be the international executing agency: it should also play a key role in helping governments to establish food reserves in the developing countries.
141. The Conference expressed the view that the Programme should play an important role in the proposed World Food Conference 1974, as well as in the implementation of the results of the Conference.
142. Some delegates recommended the inclusion of non-food items and agricultural inputs such as fertilizers, pesticides and breeding materials in the Programme resources or as project inputs from complementary sources. In this connexion the Executive Director indicated the Programme had already established a mechanism for dealing with this subject in relation to WFP-assisted projects.
143. Some delegates said that WFP should increase its efforts to speed up preparation of projects and the delivery of the commodities promised to them.
144. The Conference took note of the priorities suggested by the Executive Director and approved by the IGC at its Twenty-Fourth Session; in particular, those relating to the least developed countries, the most vulnerable groups, and agricultural production. It urged the IGC to keep the matter of priorities under review.
145. As regards the cash component of pledges, the Conference urged all Member Nations to comply with that part of the WFP Basic Texts which required an aggregate total of one-third of cash and service contributions. This would enable the Programme to provide increased financial assistance to the least developed countries, to assist them in meeting their local transportation, storage and handling costs, as well as purchase additional commodities, particularly from developing exporting countries, and to meet increased freight costs.
146. The Conference approved the pledging target of $440 million, although it emphasized that this figure was too low to meet the Programme's commitments and needs. The Conference appealed for more countries to contribute and urged donors to increase their pledges so that the target would be surpassed. The Conference appealed to donor countries to give additional resources during the current 1973-74 biennium to make up for the shortage in commodities.
147. The Conference then adopted the following resolution:
TARGET FOR WFP PLEDGES FOR THE PERIOD 1975-76
THE CONFERENCE,
Recalling the provisions of resolution 4/65 that the World Food Programme is to be reviewed before each pledging conference,
Recalling the provisions of operative paragraph 4 of its Resolution 2/71 of 24 November 1971 that, subject to the review mentioned above, the next pledging conference should be convened at the latest early in 1974, at which time governments should be invited to pledge contributions for 1975 and 1976, with a view to reaching such a target as may be then recommended by the General Assembly and the Conference of the Food and Agriculture Organization of the United Nations,
Noting that the review of the Programme was undertaken by the Intergovernmental Committee of the World Food Programme at its Twenty-third Session and by the FAO Council at its Sixtieth Session,
Having considered Resolution 3/61 of the FAO Council as well as the recommendation of the Intergovernmental Committee,
Recognizing the value of multilateral food aid as implemented by WFP since its inception and the necessity for continuing its action both as a form of capital investment and for meeting emergency food needs,
1. Establishes for the two years 1975 and 1976 a target for voluntary contributions of $ 440 million, of which not less than one third should be in cash and/or services, and expresses the hope that such resources will be augmented by substantial additional contributions from other sources in recognition of the prospective volume of sound project requests and the capacity of the Programme to operate at a higher level,
2. Urges States Members of the United Nations and Members and Associate Members of the Food and Agriculture Organization of the United Nations to make every effort to ensure the full attainment of the target,
3. Requests the Secretary-General, in cooperation with the Director-General of FAO, to convene a pledging conference for this purpose at United Nations Headquarters early in 1974,
4. Decides that, subject to the review provided for in resolution 4/65, the following pledging conference at which governments should be invited to pledge contributions for 1977 and 1978 with a view to reaching such a target as may be then recommended by the General Assembly and the Conference of the Food and Agriculture Organization should be convened at the latest early in 1976.
(Adopted 28 November 1973)
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