UN General Assembly
1985

Sources of long-term financing are crucial to the economic program of developing States, and it is clear that those States cannot afford, as they are now required, to borrow at commercial rather than at concessional rates. Yet, the cost of borrowing from the institutions engaged in international finance, which were supposedly designed as the machinery for the promotion of the economic development of all peoples, has become economically too high and politically too explosive for most developing countries. Why impose on today's developing countries conditions of financing so much more onerous than those experienced by the present developed countries in the early stages of their growth and development?