text: objective of tbe nen facility would be to reduce supply instability 1n specific corullodity sectors. ft would provide loans Co developing countries that suffer ashortfall in earnings from exportg of a speciflc comrnodity in conjunction r.rith anulti-year prograftle to address Che causeB of the supply instabiliCy. The new facility eould thus conplement. existing schemes (lhe Conpensatory FinancingFacility of the IMF, the Stabilization of Export Earnings schene of ghe European Econonic Conmunity, and ttre Etructural adjustment lending of the world Bank) and it rrould facilitate national efforts to address comnod ity problens in a manner conducive to greater stabillty in international conmodity narkets,A/4O/s9'7 English Page 19 DEVEIOPMENT OF THE ENERGY RESOURCES OT' TIIE DEVELOPING COUNTRIES 63. The quantun jumps in the price of energy which occurred in 1973-1974 and 1979-1980 set in notion forces that sharply reduced the rate of growth of energy consunption virtually rdorld-wide, spurred the search for conventlonal energy sources such as fossil fuels and led to investigation of a broad speclrun of unconventional energy sources. Coupled with tbe effecEs of sloeer econonic growth, these developnents led to divergent energy trends by the nid-1980s. On Che one hand. narkets for modern comnercial fuels have shown a tendency toidards excessgupply at the global level, with attendant downward preesures on prices, especiallyin petroleum products and coal. On the other hand, traditional energy sources such as firesoods continue in 6hort supply - softetimea catastroph ical ly so - over broad areas in developing c'ounEries. AII ln all, the problens facing developing countries in Ehe energy sector remaih severe. 27/ fn response, tbe Uniged Nations systen has intensified efforts t'o promoLe the develolment of energy resources in developing countr ies, 64. A case in point is the recent initiation of a new energy programm€ by the
analysis: The text discusses the development of energy resources in developing countries, the challenges faced by these countries in the energy sector, and the initiatives taken by the United Nations to promote the development of energy resources. The text also mentions the concept of a new facility that aims to reduce supply instability in specific commodity sectors, which suggests a broader economic development context.