Organization for European Economic Co-operation

OEEC came into existence on April 16, 1948, in the aftermath of the Second World War when there was an imminent, need to rebuild Europe. The primary purpose behind the formation of OEEC was the execution of the Marshall Plan. Also known as, the European Recovery Program, the Marshall Plan was an American Initiative to aid Western Europe. Back then, the United States disbursed up to 12 billion dollars to facilitate rehabilitation across Western Europe. It is important to note that the Marshall Plan was not only to provide aid, in fact, one of its stated objectives was to halt the spread of communism.

OECD (Organization for Economic Cooperation and Development) superseded the OEEC in 1961 and since then has retained its name. Although the initial objectives have reformed into global agendas over the years, the said organization remains at the forefront of European development.

As of today, OECD is of significant value in terms of its economic status particularly due to BREXIT. An organization, which comprised of European countries in the beginning, has inducted more than thirty-five countries up until now including the United States, Canada, Japan, Korea, and etcetera.

OECD operates somewhat similar to the United Nations with respective secretariats, committees, and councils.