UN General Assembly
1974

68. That special development fund would be set up with an initial capital of $2,000 million to $3,000 mil-lion to be financed jointly by the oil-exporting as well as the industrialized countries. To guarantee an objective, fair and impartial approach, the fund was to be administered by a governing body in which all the oil-exporting, industrialized and aid-receiving countries would be equally represented on a one-man, one- vote basis. The establishment of such a voting mechanism would give a new content to the concept of multilateral assistance. 69. Yet the results of our efforts towards the establishment of the fund have not been very encouraging so far. However, undeterred by the results of its international efforts, Iran has eagerly and in all good faith been following its own program of assistance on a bilateral as well as on a multilateral basis along the lines I have already outlined above.