Bahrain, officially the Kingdom of Bahrain, is a small Arab monarchy in the Persian Gulf. Bahrains population is 1,234,567, including 666,172 non-nationals and it is 780 km2 in size, making it the third smallest nation in Asia after the Maldives and Singapore. Bahrain is the site of the ancient Dilmun civilisation and it has been famed since antiquity for its pearl fisheries, which were considered the best in the world into the 19th century. Bahrain was one of the earliest areas to convert to Islam, following a period of Arab rule, Bahrain was occupied by the Portuguese in 1521, who in turn were expelled in 1602 by Shah Abbas I of the Safavid dynasty under the Persian Empire. In 1783, the Bani Utbah clan captured Bahrain from Nasr Al-Madhkur and it has since been ruled by the Al Khalifa royal family, in the late 1800s, following successive treaties with the British, Bahrain became a protectorate of the United Kingdom. Formerly a state, Bahrain was declared a Kingdom in 2002, in 2011, the country experienced protests inspired by the regional Arab Spring.
Bahrain had the first post-oil economy in the Persian Gulf, since the late 20th century, Bahrain has invested in the banking and tourism sectors. Many large financial institutions have a presence in Manama, the countrys capital, Bahrain has a high Human Development Index and was recognised by the World Bank as a high income economy. In Arabic, Bahrayn is the form of bahr, so al-Bahrayn means the two seas, although which two seas were originally intended remains in dispute. The term appears five times in the Quran, but does not refer to the modern island—originally known to the Arabs as Awal— but rather to all of Eastern Arabia. Today, Bahrains two seas are generally taken to be the bay east and west of the island. In addition to wells, there are areas of the sea north of Bahrain where fresh water bubbles up in the middle of the water as noted by visitors since antiquity. An alternate theory with regard to Bahrains toponymy is offered by the al-Ahsa region, another supposition by al-Jawahari suggests that the more formal name Bahri would have been misunderstood and so was opted against.
Until the late Middle Ages, Bahrain referred to the region of Eastern Arabia that included Southern Iraq, Kuwait, Al-Hasa, the region stretched from Basra in Iraq to the Strait of Hormuz in Oman. This was Iqlīm al-Bahrayns Bahrayn Province, the exact date at which the term Bahrain began to refer solely to the Awal archipelago is unknown. The entire coastal strip of Eastern Arabia was known as Bahrain for a millennium, the island and kingdom were commonly spelled Bahrein into the 1950s. Bahrain was home to the Dilmun civilization, an important Bronze Age trade centre linking Mesopotamia, Bahrain was ruled by the Assyrians and Babylonians. From the 6th to 3rd century BC, Bahrain was part of the Persian Empire ruled by the Achaemenian dynasty, by about 250 BC, Parthia brought the Persian Gulf under its control and extended its influence as far as Oman
Dambisa Moyo is a Zambian-born international economist and author who analyzes the macroeconomy and global affairs. She currently serves on the boards of Barclays Bank, the financial group, SABMiller, the global brewer, and Barrick Gold. She worked for two years at the World Bank and eight years at Goldman Sachs before becoming an author and she holds a Bachelors degree in Chemistry and MBA from American University, an MPA from the Harvard Kennedy School, and a DPhil in Economics from Oxford. Dambisa Moyo was born in 1969 in Lusaka, the capital of Zambia and she finished her degree in the U. S. via a scholarship to American University in Washington, D. C. Moyo received a BS in Chemistry from American University in 1991, and she acquired a Master of Public Administration degree at Harvard Universitys John F. Kennedy School of Government in 1997. In 2002 she received a DPhil in Economics from St Antonys College and her Oxford studies were in macroeconomics, and her doctoral dissertation was on savings rates in developing countries.
Following her MBA from American University, Moyo worked at the World Bank from May 1993 to September 1995 and she was a consultant in the Europe and Central Asia department and the Africa department, and co-authored the World Banks annual World Development Report. After pursuing her MPA and PhD degrees at Harvard and Oxford and she was at the company until November 2008, working mainly in debt capital markets, hedge funds coverage, and global macroeconomics. Part of her tenure at Goldman Sachs was spent advising developing countries on the issuing of bonds on the international market and she was Head of Economic Research and Strategy for Sub–Saharan Africa. After leaving Goldman Sachs, Moyo joined the board of directors of the international brewer SABMiller in 2009, in 2010 Moyo joined the board of directors of Barclays Bank. She sits on three of the committees, the Audit Committee, the Conduct and Reputational Risk Committee. In 2011 she joined the board of directors of the mining company Barrick Gold.
She sits on the boards Audit Committee, Corporate Governance and Nomination Committee, in 2015 Moyo joined the board of directors of data storage company Seagate Technology. On August 9,2016, Chevron Corporation announced that Dr. Dambisa Moyo, according to the Press Release, Dr. Moyo’s appointment would be effective October 11,2016. Moyo is a board member of the charity Lundin for Africa. She is a board member of Room to Read. Moyos first book, Dead Aid, Why Aid Is Not Working, Dead Aid catapulted Moyo into the public eye and made her a sought-after speaker and author. In 2009 she was named a World Economic Forum Young Global Leader, one of TIMEs 100, the book consolidated her career of traveling worldwide investigating and analyzing economic conditions and writing about her conclusions
Switzerland, officially the Swiss Confederation, is a federal republic in Europe. It consists of 26 cantons, and the city of Bern is the seat of the federal authorities. The country is situated in western-Central Europe, and is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning an area of 41,285 km2. The establishment of the Old Swiss Confederacy dates to the medieval period, resulting from a series of military successes against Austria. Swiss independence from the Holy Roman Empire was formally recognized in the Peace of Westphalia in 1648. The country has a history of armed neutrality going back to the Reformation, it has not been in a state of war internationally since 1815, nevertheless, it pursues an active foreign policy and is frequently involved in peace-building processes around the world. In addition to being the birthplace of the Red Cross, Switzerland is home to international organisations.
On the European level, it is a member of the European Free Trade Association. However, it participates in the Schengen Area and the European Single Market through bilateral treaties, spanning the intersection of Germanic and Romance Europe, Switzerland comprises four main linguistic and cultural regions, French and Romansh. Due to its diversity, Switzerland is known by a variety of native names, Suisse, Svizzera. On coins and stamps, Latin is used instead of the four living languages, Switzerland is one of the most developed countries in the world, with the highest nominal wealth per adult and the eighth-highest per capita gross domestic product according to the IMF. Zürich and Geneva have each been ranked among the top cities in the world in terms of quality of life, with the former ranked second globally, according to Mercer. The English name Switzerland is a compound containing Switzer, a term for the Swiss. The English adjective Swiss is a loan from French Suisse, in use since the 16th century.
The name Switzer is from the Alemannic Schwiizer, in origin an inhabitant of Schwyz and its associated territory, the Swiss began to adopt the name for themselves after the Swabian War of 1499, used alongside the term for Confederates, used since the 14th century. The data code for Switzerland, CH, is derived from Latin Confoederatio Helvetica. The toponym Schwyz itself was first attested in 972, as Old High German Suittes, ultimately related to swedan ‘to burn’
United Arab Emirates
In 2013, the UAEs population was 9.2 million, of which 1.4 million are Emirati citizens and 7.8 million are expatriates. The country is a federation of seven emirates, and was established on 2 December 1971, the constituent emirates are Abu Dhabi, Dubai, Ras al-Khaimah and Umm al-Quwain. Each emirate is governed by a monarch, they jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates, Islam is the official religion of the UAE and Arabic is the official language. The UAEs oil reserves are the seventh-largest in the world while its natural gas reserves are the worlds seventeenth-largest, Sheikh Zayed, ruler of Abu Dhabi and the first President of the UAE, oversaw the development of the Emirates and steered oil revenues into healthcare and infrastructure. The UAEs economy is the most diversified in the Gulf Cooperation Council, while its most populous city of Dubai is an important global city, the country remains principally reliant on its export of petroleum and natural gas.
The UAE is criticised for its rights record, including the specific interpretations of Sharia used in its legal system. The UAEs rising international profile has led analysts to identify it as a regional. It appears the land of the Emirates has been occupied for thousands of years, there is no proof of contact with the outside world at that stage, although in time it developed with civilisations in Mesopotamia and Iran. This contact persisted and became wide-ranging, probably motivated by trade in copper from the Hajar Mountains, in ancient times, Al Hasa was part of Al Bahreyn and adjoined Greater Oman. Sassanid groups were present on the Batinah coast, in 637, Julfar was an important port that was used as a staging post for the Islamic invasion of the Sassanian Empire. The area of the Al Ain/Buraimi Oasis was known as Tuam and was an important trading post for camel routes between the coast and the Arabian interior. The earliest Christian site in the UAE was first discovered in the 1990s, a monastic complex on what is now known as Sir Bani Yas Island.
Thought to be Nestorian and built in 600 AD, the church appears to have been abandoned peacefully in 750 AD and it forms a rare physical link to a legacy of Christianity which is thought to have spread across the peninsula from 50 to 350 AD following trade routes. Certainly, by the 5th century, Oman had a bishop named John – the last bishop of Oman being Etienne, in 676 AD. This led to a group of travelling to Medina, converting to Islam and subsequently driving a successful uprising against the unpopular Sassanids. Following the death of Prophet Muhammad, the new Islamic communities south of the Persian Gulf threatened to disintegrate, with insurrections against the Muslim leaders. The Caliph Abu Bakr sent an army from the capital Medina which completed its reconquest of the territory with the battle of Dibba in which 10,000 lives are thought to have been lost
Finland, officially the Republic of Finland, is a sovereign state in Northern Europe. A peninsula with the Gulf of Finland to the south and the Gulf of Bothnia to the west, the country has borders with Sweden to the northwest, Norway to the north. Estonia is south of the country across the Gulf of Finland, Finland is a Nordic country situated in the geographical region of Fennoscandia, which includes Scandinavia. Finlands population is 5.5 million, and the majority of the population is concentrated in the southern region,88. 7% of the population is Finnish people who speak Finnish, a Uralic language unrelated to the Scandinavian languages, the second major group are the Finland-Swedes. In terms of area, it is the eighth largest country in Europe, Finland is a parliamentary republic with a central government based in the capital Helsinki, local governments in 311 municipalities, and an autonomous region, the Åland Islands. Over 1.4 million people live in the Greater Helsinki metropolitan area, from the late 12th century, Finland was an integral part of Sweden, a legacy reflected in the prevalence of the Swedish language and its official status.
In the spirit of the notion of Adolf Ivar Arwidsson, we are not Swedes, we do not want to become Russians, let us therefore be Finns, nevertheless, in 1809, Finland was incorporated into the Russian Empire as the autonomous Grand Duchy of Finland. In 1906, Finland became the nation in the world to give the right to vote to all adult citizens. Following the 1917 Russian Revolution, Finland declared itself independent, in 1918, the fledgling state was divided by civil war, with the Bolshevik-leaning Reds supported by the equally new Soviet Russia, fighting the Whites, supported by the German Empire. After a brief attempt to establish a kingdom, the became a republic. During World War II, the Soviet Union sought repeatedly to occupy Finland, with Finland losing parts of Karelia and Kuusamo, Petsamo and some islands, Finland joined the United Nations in 1955 and established an official policy of neutrality. The Finno-Soviet Treaty of 1948 gave the Soviet Union some leverage in Finnish domestic politics during the Cold War era, Finland was a relative latecomer to industrialization, remaining a largely agrarian country until the 1950s.
It rapidly developed an advanced economy while building an extensive Nordic-style welfare state, resulting in widespread prosperity, Finnish GDP growth has been negative in 2012–2014, with a preceding nadir of −8% in 2009. Finland is a top performer in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life, a large majority of Finns are members of the Evangelical Lutheran Church, though freedom of religion is guaranteed under the Finnish Constitution. The first known appearance of the name Finland is thought to be on three rune-stones. Two were found in the Swedish province of Uppland and have the inscription finlonti, the third was found in Gotland, in the Baltic Sea. It has the inscription finlandi and dates from the 13th century, the name can be assumed to be related to the tribe name Finns, which is mentioned first known time AD98. The name Suomi has uncertain origins, but a candidate for a source is the Proto-Baltic word *źemē, in addition to the close relatives of Finnish, this name is used in the Baltic languages Latvian and Lithuanian
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country in western Europe. Lying off the north-western coast of the European mainland, the United Kingdom includes the island of Great Britain, Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state—the Republic of Ireland. The Irish Sea lies between Great Britain and Ireland, with an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world and the 11th-largest in Europe. It is the 21st-most populous country, with an estimated 65.1 million inhabitants, this makes it the fourth-most densely populated country in the European Union. The United Kingdom is a monarchy with a parliamentary system of governance. The monarch is Queen Elizabeth II, who has reigned since 6 February 1952, other major urban areas in the United Kingdom include the regions of Birmingham, Glasgow and Manchester.
The United Kingdom consists of four countries—England, Wales, the last three have devolved administrations, each with varying powers, based in their capitals, Edinburgh and Belfast, respectively. The relationships among the countries of the UK have changed over time, Wales was annexed by the Kingdom of England under the Laws in Wales Acts 1535 and 1542. A treaty between England and Scotland resulted in 1707 in a unified Kingdom of Great Britain, which merged in 1801 with the Kingdom of Ireland to form the United Kingdom of Great Britain and Ireland. Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain, there are fourteen British Overseas Territories. These are the remnants of the British Empire which, at its height in the 1920s, British influence can be observed in the language and legal systems of many of its former colonies. The United Kingdom is a country and has the worlds fifth-largest economy by nominal GDP. The UK is considered to have an economy and is categorised as very high in the Human Development Index.
It was the worlds first industrialised country and the worlds foremost power during the 19th, the UK remains a great power with considerable economic, military and political influence internationally. It is a nuclear weapons state and its military expenditure ranks fourth or fifth in the world. The UK has been a permanent member of the United Nations Security Council since its first session in 1946 and it has been a leading member state of the EU and its predecessor, the European Economic Community, since 1973. However, on 23 June 2016, a referendum on the UKs membership of the EU resulted in a decision to leave. The Acts of Union 1800 united the Kingdom of Great Britain, Scotland and Northern Ireland have devolved self-government
Republic of Ireland
Ireland, known as the Republic of Ireland, is a sovereign state in north-western Europe occupying about five-sixths of the island of Ireland. The capital and largest city is Dublin, which is located on the part of the island. The state shares its land border with Northern Ireland, a part of the United Kingdom. It is otherwise surrounded by the Atlantic Ocean, with the Celtic Sea to the south, Saint Georges Channel to the south-east, and it is a unitary, parliamentary republic. The head of government is the Taoiseach, who is elected by the Dáil and appointed by the President, the state was created as the Irish Free State in 1922 as a result of the Anglo-Irish Treaty. It was officially declared a republic in 1949, following the Republic of Ireland Act 1948, Ireland became a member of the United Nations in December 1955. It joined the European Economic Community, the predecessor of the European Union, after joining the EEC, Ireland enacted a series of liberal economic policies that resulted in rapid economic growth.
The country achieved considerable prosperity between the years of 1995 and 2007, which known as the Celtic Tiger period. This was halted by a financial crisis that began in 2008. However, as the Irish economy was the fastest growing in the EU in 2015, Ireland is again quickly ascending league tables comparing wealth and prosperity internationally. For example, in 2015, Ireland was ranked as the joint sixth most developed country in the world by the United Nations Human Development Index and it performs well in several national performance metrics, including freedom of the press, economic freedom and civil liberties. Ireland is a member of the European Union and is a member of the Council of Europe. The 1922 state, comprising 26 of the 32 counties of Ireland, was styled, the Constitution of Ireland, adopted in 1937, provides that the name of the State is Éire, or, in the English language, Ireland. Section 2 of the Republic of Ireland Act 1948 states, It is hereby declared that the description of the State shall be the Republic of Ireland.
The 1948 Act does not name the state as Republic of Ireland, because to have done so would have put it in conflict with the Constitution. The government of the United Kingdom used the name Eire, from 1949, Republic of Ireland, for the state, as well as Ireland, Éire or the Republic of Ireland, the state is referred to as the Republic, Southern Ireland or the South. In an Irish republican context it is referred to as the Free State or the 26 Counties. From the Act of Union on 1 January 1801, until 6 December 1922, during the Great Famine, from 1845 to 1849, the islands population of over 8 million fell by 30%
Development aid is financial aid given by governments and other agencies to support the economic, environmental and political development of developing countries. It is distinguished from humanitarian aid by focusing on alleviating poverty in the long term, Most development aid comes from the Western industrialised countries but some poorer countries contribute aid. The proportion is currently about 70% bilateral 30% multilateral, about 80-85% of developmental aid comes from government sources as official development assistance. The remaining 15-20% comes from organisations such as non-governmental organisations, foundations. In addition, remittances received from migrants working or living in diaspora form a significant amount of international transfer, some governments include military assistance in the notion foreign aid, although many NGOs tend to disapprove of this. Official development assistance is a measure of government-contributed aid, compiled by the Development Assistance Committee of the Organisation for Economic Co-operation, the DAC consists of 34 of the largest aid-donating countries.
The concept of development aid goes back to the era at the turn of the twentieth century. The traditional government policy had tended to favor laissez-faire style economics, with the market for capital. The first challenge first by Britain was the crisis that occurred after World War I. Prior to the passage of the 1929 Colonial Development Act, the doctrine that governed Britain with their territories was that of financial self-sufficiency, what this simply meant was that the colonies were responsible for themselves. Britain was not going to use the money belongs to the metropole to pay for things in the colonies. The colonies did not only have to pay for infrastructural development, the colonies generated the revenues to pay for these through different forms of taxations. The standard taxation was the import and export taxes, goods going out of the colonies were taxed and those coming in were taxed. Apart from these taxes, the colonizers introduced two forms of taxes, hut tax and labor tax.
The hut tax is akin to a property tax today, every grown up adult male had their own hut. Each of these had to pay a tax, labor tax was the work that the people had to do without any remunerations or with meager stipends. As the economic crisis widened and had significant impact on the colonies, revenues generated from taxes continued to decline, while this was going on, Britain experienced major unemployment rates. Parliament began to discuss ways in which they could deal with Britains unemployment rates, the 1929 Act, though meager in the resources it made available for development, was a significant Act because it opened the door for Britain to make future investments in the colonies
Tied aid is foreign aid that must be spent in the country providing the aid or in a group of selected countries. A developed country will provide a loan or grant to a developing country. From this it follows that untied aid has no geographical limitations, in 2006 the Organisation for Economic Co-operation and Development estimated that 41.7 percent of Official Development Assistance is untied. In the OECD report The Tying of Aid it was found that the motivations for tying aid were both economical and political, from the economic point of view, the donor country aims to raise its own exports. However, the found that the exports related to tied aid were minimal. It referred to a study that looked at the relation between exports from nine representative European donors and 32 representative developing countries. That study found that exports connected to tied aid constituted about 4 percent of the total, the Tying of Aid thus concluded that the more important reason for the practice was political.
It is difficult to make an estimate on the related costs to the recipient for various reasons. One of these, is even though a donor ties its aid. Another factor is the ability a donor has to enforce the tying of aid in the recipient country, even so, the OECD has made some general remarks on the costs, Aid tying by OECD donor countries has important consequences for developing countries. Tying aid to specific commodities and services, or to procurement in a country or region. If donors claim that 42 percent of aid is untied. In 2004, total aid amounted to US$79.5 billion. In the worst-case scenario of OECD, the tying of aid can reduce its value by as much as 30 percent, if that was true in all cases, that translates into a US$13.9 billion reduced value of aid for the recipients. If the value on an average only is reduced by 20 percent, the tying of aid is a form of protectionism, the literature on this particular subject is rather scanty. One of the problems in the untying of aid is the prisoners dilemma.
Those donors that want to abolish the practice will see their own interests damaged if the other donors do not follow, in 2001, the donor members of the Development Assistance Committee, a subcommittee of the OECD, agreed to virtually untie all aid to the Least Developed Countries. That Recommendation entered into effect on January 1,2002, further progress on this particular issue is being implemented as part of the Paris Declaration on Aid Effectiveness
The World Bank is an international financial institution that provides loans to countries of the world for capital programs. It comprises two institutions, the International Bank for Reconstruction and Development, and the International Development Association, the World Bank is a component of the World Bank Group, which is part of the United Nations system. The World Banks stated official goal is the reduction of poverty, the president of the World Bank is, traditionally, an American. The World Bank and the IMF are both based in Washington, D. C. and work closely with each other, although many countries were represented at the Bretton Woods Conference, the United States and United Kingdom were the most powerful in attendance and dominated the negotiations. Before 1974 the reconstruction and development loans provided by the World Bank were relatively small, the Banks staff were aware of the need to instill confidence in the bank. Fiscal conservatism ruled, and loan applications had to meet strict criteria, the first country to receive a World Bank loan was France.
The Banks president at the time, John McCloy, chose France over two other applicants and Chile, the loan was for US$250 million, half the amount requested, and it came with strict conditions. France had to agree to produce a budget and give priority of debt repayment to the World Bank over other governments. World Bank staff closely monitored the use of the funds to ensure that the French government met the conditions. In addition, before the loan was approved, the United States State Department told the French government that its members associated with the Communist Party would first have to be removed, the French government complied with this diktat and removed the Communist coalition government - the so-called tripartisme. Within hours, the loan to France was approved, when the Marshall Plan went into effect in 1947, many European countries began receiving aid from other sources. Faced with this competition, the World Bank shifted its focus to non-European countries, in 1960, the International Development Association was formed, providing soft loans to developing countries.
From 1974 to 1980 the bank concentrated on meeting the needs of people in the developing world. The size and number of loans to borrowers was greatly increased as loan targets expanded from infrastructure into social services and these changes can be attributed to Robert McNamara, who was appointed to the presidency in 1968 by Lyndon B. Johnson. McNamara implored bank treasurer Eugene Rotberg to seek out new sources of capital outside of the banks that had been the primary sources of funding. Rotberg used the bond market to increase the capital available to the bank. One consequence of the period of poverty alleviation lending was the rise of third world debt. From 1976 to 1980 developing world debt rose at an annual rate of 20%
Sweden, officially the Kingdom of Sweden, is a Scandinavian country in Northern Europe. It borders Norway to the west and Finland to the east, at 450,295 square kilometres, Sweden is the third-largest country in the European Union by area, with a total population of 10.0 million. Sweden consequently has a low density of 22 inhabitants per square kilometre. Approximately 85% of the lives in urban areas. Germanic peoples have inhabited Sweden since prehistoric times, emerging into history as the Geats/Götar and Swedes/Svear, Southern Sweden is predominantly agricultural, while the north is heavily forested. Sweden is part of the area of Fennoscandia. The climate is in very mild for its northerly latitude due to significant maritime influence. Today, Sweden is a monarchy and parliamentary democracy, with a monarch as head of state. The capital city is Stockholm, which is the most populous city in the country, legislative power is vested in the 349-member unicameral Riksdag. Executive power is exercised by the government chaired by the prime minister, Sweden is a unitary state, currently divided into 21 counties and 290 municipalities.
Sweden emerged as an independent and unified country during the Middle Ages, in the 17th century, it expanded its territories to form the Swedish Empire, which became one of the great powers of Europe until the early 18th century. Swedish territories outside the Scandinavian Peninsula were gradually lost during the 18th and 19th centuries, the last war in which Sweden was directly involved was in 1814, when Norway was militarily forced into personal union. Since then, Sweden has been at peace, maintaining a policy of neutrality in foreign affairs. The union with Norway was peacefully dissolved in 1905, leading to Swedens current borders, though Sweden was formally neutral through both world wars, Sweden engaged in humanitarian efforts, such as taking in refugees from German-occupied Europe. After the end of the Cold War, Sweden joined the European Union on 1 January 1995 and it is a member of the United Nations, the Nordic Council, Council of Europe, the World Trade Organization and the Organisation for Economic Co-operation and Development.
Sweden maintains a Nordic social welfare system that provides health care. The modern name Sweden is derived through back-formation from Old English Swēoþēod and this word is derived from Sweon/Sweonas. The Swedish name Sverige literally means Realm of the Swedes, excluding the Geats in Götaland, the etymology of Swedes, and thus Sweden, is generally not agreed upon but may derive from Proto-Germanic Swihoniz meaning ones own, referring to ones own Germanic tribe
The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 35 member countries, founded in 1960 to stimulate economic progress and world trade. Most OECD members are high-income economies with a very high Human Development Index and are regarded as developed countries, in 1948, the OECD originated as the Organisation for European Economic Co-operation, led by Robert Marjolin of France, to help administer the Marshall Plan. This would be achieved by allocating American financial aid and implementing programs for the reconstruction of Europe after World War II. The OECDs headquarters are at the Château de la Muette in Paris, the OECD is funded by contributions from member states at varying rates. And had a budget of EUR363 million in 2015. It started its operations on 16 April 1948, and originated from the work done by the Committee of European Economic Co-operation in 1947 in preparation for the Marshall Plan, since 1949, it was headquartered in the Château de la Muette in Paris, France.
After the Marshall Plan ended, the OEEC focused on economic issues, in 1958, a European Nuclear Energy Agency was set up under the OEEC. By the end of the 1950s, with the job of rebuilding Europe effectively done, some leading countries felt that the OEEC had outlived its purpose and this reconstituted organisation would bring the US and Canada, who were already OEEC observers, on board as full members. It would set to work away on bringing in Japan. Following the 1957 Rome Treaties to launch the European Economic Community, the Convention was signed in December 1960 and the OECD officially superseded the OEEC in September 1961. It consisted of the European founder countries of the OEEC plus the United States and Canada, the official founding members are, During the next 12 years Japan, Finland and New Zealand joined the organisation. Yugoslavia had observer status in the organisation starting with the establishment of the OECD until its dissolution as a country, the OECD created agencies such as the OECD Development Centre, International Energy Agency, and Financial Action Task Force on Money Laundering.
Unlike the organizations of the United Nations system, OECD uses the spelling organisation with an s in its name rather than organization, in 1989, after the Revolutions of 1989, the OECD started to assist countries in Central Europe to prepare market economy reforms. This programme included an option for these countries. As a result of this, Hungary, the Czech Republic, in the 1990s, a number of European countries, now members of the European Union, expressed their willingness to join the organisation. In 1995, Cyprus applied for membership, according to the Cypriot government, in 1996, Estonia and Lithuania signed a Joint Declaration expressing willingness to become full members of the OECD. Slovenia applied for membership that same year, in 2005, Malta applied to join the organisation. The EU is lobbying for admission of all EU member states, Romania reaffirmed in 2012 its intention to become a member of the organisation through the letter addressed by the Romanian Prime Minister Victor Ponta to OECD Secretary-General José Ángel Gurría