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Foreign direct investment (FDI) into 17 OECD countries, including France, Germany, Japan, the UK and the US, fell by 50% in the first quarter of 2009 compared with the last quarter of 2008, according to estimates by the OECD released at the OECD Forum in Paris.
Countries participating in a “Freedom of Investment” initiative, which together represent four fifths of the world economy, have pledged to resist discriminatory policies and new forms of protectionism towards investment.
In 2008, total net official development assistance (ODA) from members of the OECD’s Development Assistance Committee (DAC) rose by 10.2% in real terms to USD 119.8 billion. This is the highest dollar figure ever recorded. It represents 0.30% of members’ combined gross national income.
On 11 March 2009, Israel became the 38th signatory to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
The OECD will release a new report – Managing Water for All: Pricing and Financing – at an event during the World Water Forum in Istanbul.
Israel has officially joined the OECD Working Group on Bribery, an important step in its accession to OECD membership. Israel becomes the 38th signatory and first Middle-Eastern country to join the OECD’s Anti-Bribery Convention.
OECD is preparing a two-pillar action plan for governments, as part of a global response to the world financial crisis, calling for tighter regulation and oversight of financial markets and improved national policies to promote economic growth.
At a meeting in Berlin on 4-5 November 2008, ministers from Central Asian countries agreed to work together on a regional initiative to boost the business climate, drawing on OECD country experiences in policy reforms aimed at spurring investment and competitiveness.
The OECD’s Working Group on Bribery sharply criticised the United Kingdom’s failure to bring its anti-bribery laws into line with its international obligations under the OECD Anti-Bribery Convention and urged the rapid introduction of new legislation.
The 22 member countries of the OECD Development Assistance Committee, the world’s major donors, provided USD 103.7 billion in aid in 2007.