A/RES/48/214 Page 5 United Nations Development Programme, the Food and Agriculture Organization of the United Nations and the United Nations Industrial Development Organization; 18. Decides also to take full account of the conclusions of those consultations in determining, during its resumed forty-eighth session, the appropriate actions to be taken to strengthen support for the diversification of African economies, including the proposed establishment of new funding arrangements, together with the organization of follow-up activities, such as seminars or expert workshops; 19. Encourages African countries to establish national diversification councils, as recommended in the report transmitted by the SecretaryGeneral, 7/ including representatives from the Government and the private sector; 20. Urges the international community to increase financial resource flows to Africa, as these are crucial to regenerate growth and sustainable development of the African economies, to provide effective support to the political and economic reforms in which many African countries are now engaged and to help cushion adverse social impact; 21. Reaffirms the recommendations stipulated in paragraphs 23 to 28 of the New Agenda concerning Africa’s debt problem, and in that context invites the international community to address Africa’s external debt crisis and debt problems of African countries, including continuing to give serious consideration to the proposal for the convening of an international conference on Africa’s external indebtedness; 22. Urges States to implement the undertakings they have made to attain the agreed international targets of devoting 0.7 per cent of gross national product to official development assistance and 0.15 per cent to least developed countries as soon as possible and to provide a better environment for the realization of the suggested estimate of the need to achieve an average of a 4 per cent real growth in annual financial resource flows to Africa, as outlined in paragraph 29 of the New Agenda; 23. Requests the Secretary-General to undertake a study, in consultation with relevant financial institutions, recommending appropriate measures further to improve financial intermediation systems and practices in African countries to be submitted to the General Assembly at its fiftieth session, which should take into account an in-depth analysis of the current traditional systems and practices of capital formation at the local level and the kind of support measures the international community could provide; 24. Urges African countries to continue their efforts for the improvement of the investment climate, and urges donor countries to support those efforts by, inter alia, providing increasing assistance to human resources development and to the rehabilitation and development of the social and economic infrastructure; ____________ 7/ See A/48/335, para. 54. /...