An organization of industrialized countries, established in 1961, and based in Paris, which seeks to promote coordination of economic and social policies among members, to make resources of capital and training available to developing countries, to contribute to the expansion of world trade, and to foster cooperation in fields such as education, energy, and transport. It was created as a replacement for the Organization for European Economic Cooperation, which had been formed in 1948 by those countries receiving aid under the Marshall Plan. In 2020 its members were Australia, Austria, Belgium, Canada, Chile, Colombia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Republic of Ireland, Israel, Italy, Japan, South Korea, Latvia, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, the UK, and the USA. The OECD prepares an influential annual report on the economy of each member country.