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UN General Assembly resolution A/RES/2626(XXV) of 24 October 1970 states (para. 43):
“Each economically advanced country will progressively increase its official development assistance to the developing countries and will exert its best efforts to reach a minimum net amount of 0.7 percent of its gross national product … by the middle of the Decade."
Related document to this resolution is the report of the Second Committee: A/8124.
The Organization for Economic Co-Operation and Development (OECD, a non-UN organization) has a webpage explaining the history and development of this target for official development assistance (ODA).
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