The European Investment Bank, the bank of the European Union, and the Organisation for Economic Cooperation and Development (OECD) have agreed to share their expertise in support of economic co-operation and sustainable development in industrialised and developing countries. A cooperation agreement to that effect was signed in Paris today by EIB President Philippe Maystadt and OECD Secretary General Angel Gurria.
Addressing the OECD’s decision-making Council, EIB President Philippe Maystadt said: “The EIB is committed to cooperating with the OECD on challenges such as aid effectiveness, corporate governance and sustainable development, including the fight against climate change. We believe that OECD and EIB expertise can be combined for the benefit of our respective member states and partner countries.”
“The crisis has highlighted the importance and value of countries and organisations working more closely together to tackle global challenges,” said OECD Secretary-General Angel Gurría. “This agreement with the EIB is another step forward in the OECD’s efforts to achieve that and help a wide range of countries boost their economic growth and prosperity.”
Specifically, the two institutions have agreed to cooperate by sharing knowledge in the areas of: research and innovation; development policy and related financing issues; regional policy, including sustainable urban development; private sector development, including financing for small and medium-sized enterprises (SMEs) and public-private partnerships (PPPs); Corporate Social Responsibility and anti-corruption and anti-fraud policies; environmental sustainability and the economics of climate change.
To promote collaboration on urban development, Poland has been selected by EIB and OECD for a pilot exercise that could be extended to other countries or regions. The EIB has invited the OECD to be partners in an Urban Platform for Poland - a research network for urban development issues in that country - and the OECD has suggested the EIB participate in meetings to prepare the OECD National Urban Policy Review of Poland.
The European Commission will be kept informed about the cooperation agreement and involved where appropriate, particularly for issues related to development assistance measurement, via its Permanent Representative at OECD.
Background:
The European Investment Bank is the bank of the European Union. Founded in 1958 under the Treaty of Rome, it operates in the 27 EU Member States and more than 130 other countries. In 2008 it signed loans for projects in support of EU policies and objectives for an amount of EUR 57.6 billion, of which EUR 6.1 billion was for projects outside the EU. Within the EU it focuses its lending activity in six areas: poorer regions, the environment, transport and energy networks, small and medium-sized enterprises (SMEs), innovation and research, and secure and sustainable energy supplies.
The OECD groups 30 member countries and shares expertise with more than 100 other countries. It provides a forum where governments can compare and exchange policy experiences, identify good practices and promote decisions and recommendations. Dialogue, consensus, peer review and pressure are at the very heart of OECD. The Organisation’s mission is essentially to work for a stronger, cleaner, fairer world economy. For more information, see www.oecd.org
