The European Bank for Reconstruction and Development (EBRD) and the Organisation for Economic Co-operation and Development (OECD) are taking steps to strengthen their cooperation in strategic priority areas such as private-sector development, the green economy and sustainable and inclusive development, and public and corporate governance.
In a Memorandum of Understanding (MoU) signed by EBRD President Odile Renaud-Basso and OECD Secretary-General Angel Gurría at a virtual ceremony today both sides commit to sharing information and knowledge, coordinating policy messages and launching mutually agreed initiatives.
Both organisations responded swiftly to the coronavirus pandemic and reaffirmed their commitment to tackling the crisis together with the international community. In the same spirit, they are now redoubling their engagement to support efforts to build back better and set economies on a trajectory of sustainable and inclusive growth.
EBRD president Renaud-Basso said: “We are very pleased to sign this document today because it sets our cooperation with the OECD on a new path. The OECD is an indispensable partner when it comes to addressing the many challenges that we face – not only the immediate ones, but also over the long term. We look forward to deepening and strengthening our cooperation.”
The MoU identifies new strategic areas of common interest for enhanced collaboration. Its purpose is to provide a framework for cooperation and enable collaboration in order to enhance people’s well-being, facilitate market economies, create a sustainable and inclusive environment and assist national and other stakeholders to improve the business climate.
Under the MoU, the EBRD and the OECD agree to work together and advance their common objectives in a number of strategic areas, including responsible business conduct, private-sector development, competitiveness and the investment climate, infrastructure quality, governance, anti-corruption, structural reforms and competition.
The signing took place on the day when the OECD was commemorating the 60th anniversary of the signing of the OECD Convention. The cooperation between the EBRD and the OECD was formalised in 1994, when the two organisations committed to cooperating on matters of mutual interest in the countries of central and eastern Europe.
