Organisation for Economic Co-operation and Development (OECD)

THE ORGANISATION FOR Economic Co-operation and Development (OECD) was tasked by its founding convention (December 14, 1960) with assisting member countries with sustaining economic expansion, increasing employment, raising their standards of living, and maintaining financial stability while developing a sustainable global economy benefiting humankind. The OECD seeks to meet these goals by the collection, evaluation, and dissemination of pertinent data, by fostering cooperation between governments and economies, and by assisting governments in developing and evaluating policies that positively and negatively impact these goals. In 1961, the OCED absorbed the Organization for European Economic Cooperation (OEEC) that starting in 1947 had administered American and Canadian aid for the post-World War II Marshall Plan reconstruction of Europe.