Group of 77 - Investment & Finance Definition
The G-77 was established on June 15, 1964, by the Joint Declaration of the Seventy-Seven Developing Countries that was issued at the end of the first session of the United Nations Conference on Trade and Development (UNCTAD). G-77 was started to promote the economic interests of its members, who are primarily developing countries, and to strengthen their joint negotiating capacity on all major international economic issues addressed by the United Nations. The membership of the G-77 has expanded to 133 member countries, but the original name has been retained because of its historical significance. See also Group of 24.