April 16, 1948

Creation of the OEEC

Three years after the end of the war in Europe, the United States decided to grant massive aid for reconstruction – to those countries that wanted it – in the form of the Marshall Plan. The Organisation for European Economic Cooperation, based in Paris, was responsible for distributing American aid. In 1961, it changed its name to the Organisation for Economic Cooperation and Development (OECD). Expanded to cover the whole developed world, the OECD now has 30 members.

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