OECD:- Organization for Economic Cooperation and Development
OECD stands for Organisation for economic co-operation and development is an intergovernmental organization which was formed at 16th April 1948(as OEEC) which was led by Robert Marjolin to administer the Marshall Plan(which was rejected by the Soviet Union). Later in 1961 September 30th, OEEC was reformed into OECD by a convention on the organization and membership was extended to non-European states. It has 36 member countries (Columbia invited to join) with its headquarter at Paris, France with Angel Gurria as it’s Secretary General. It is a shared international forum where governments work together to share their experience and seek the solution to common problems, meeting challenges and creating new opportunities for a better world economy. For half a century OECD has become a global forum for new ideas to create prosperity of developed as well as developing countries. OECD aims to create better education, prevent corruption, encourage innovation and preserve the environment. It encourages fair trade, provides a lower price for the consumer and help the government to make taxation more important and also help to improve pension and insurance system. It has a funding of about €374 million as of 2017. Nowadays OECD is best known for publishing statistics for a wide range of topics.