UN General Assembly
1973

122. Accordingly, all the developed countries should accept the target of 1 per cent and commit themselves to reaching it in 1975 at the latest. Similarly, in regard to public aid to development, as was stated by the President of the International Bank for Reconstruction and Development at the third session of the United Nations Conference on Trade and Development [UNCTAD] "... in order to raise the Rows of official development assistance from the current 0.35 per cent to the 0.7 per cent target, the developed countries would need to devote only about 1.5 per cent of the amount by which they themselves would grow richer during the decade."