18/12/2007 - The Organisation for Economic Co-operation and Development (OECD) and the World Bank have agreed to step up their co-operation in a number of key areas, including efforts to promote sustainable and inclusive growth in emerging economies, the economics of climate change, aid for trade, innovation and the design of comprehensive country frameworks for investment.
The announcement follows a meeting of senior officials in Washington D.C. on 5-6 December 2007, including at a joint OECD-World Bank seminar on "Sustainable and Inclusive Development: Going for Growth" with the participation of OECD Secretary-General Angel Gurría and World Bank President Robert B. Zoellick.
The objective of the co-operation, Mr. Gurría said, is "to help countries benefit from and tackle the challenges of globalization. Achieving an equal and inclusive distribution of benefits calls for appropriate policies at the national and global levels."
"Addressing the challenges of the globalizing economy means addressing the needs of those people and countries that remain on the fringes, as well as those which are emerging into the mainstream," said Mr. Zoellick. "There are many areas in which the World Bank Group and the OECD can intensify their cooperation, as the Bank moves to operationalize a vision of inclusive and sustainable globalization"
Co-operation between OECD and the World Bank Group has a long history and has intensified in recent years. The organisations have long had extensive cooperation in the field of development assistance and the Bank has been an active participant in OECD's Development Assistance Committee since its foundation. Co-operation encompasses a wide range of areas, including governance, trade, taxation, social protection, and investment climate.
Future co-operation will build upon existing partnerships. Special attention will be given to sharing experiences about how countries can best leverage global economic integration while confronting the challenges of inequality and sustainability, an agenda that cuts across economic, social and environmental dimensions.
OECD is intensifying its interactions with emerging economies - reflecting OECD accession negotiations (with Chile, Estonia, Israel, Russia, and Slovenia), enhanced engagement programs with large emerging economies (Brazil, China, India, Indonesia and South Africa) and expanded relations with regions of strategic interest (notably South East Asia).
At the same time, the World Bank Group is enhancing its engagement with middle-income countries by offering a broader menu of "development solutions" which includes not only more flexible and better-priced financial services, but also just-in-time knowledge and advisory services. The members of both institutions will benefit from the synergies of this collaboration, as it will facilitate access to global knowledge and its adaptation to local needs.
For further information, journalists are invited to contact the OECD's Media Division (tel. 33 1 4524 9700).