When representatives from the three regions met in Geneva for the first United Nations Conference on Trade and Development (UNCTAD) during the spring and summer of 1964, they formed the Third World caucus known as the G-77, which proceeded to play an important role in lobbying for UNCTAD’s institutionalization. The creation of UNCTAD as a permanent organ of the General Assembly was established by UN resolution no. 1995 in December 1964, and in early 1965, the General Assembly approved the appointment of Raúl Prebisch as that body’s first secretary-general.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1737