apr 16, 1948 - Creation of the OEEC

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On 16 April 1948, the 16 countries that accepted the aid offered under the Marshall Plan (Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey and the United Kingdom) sign a Convention in Paris establishing the Organisation for European Economic Cooperation (OEEC), which is responsible for managing and redistributing the US funds. In October 1948, the OEEC establishes an Overseas Territories Committee (OTC), which encourages European countries to cooperate with the United States in the development of Africa via a special overseas territories fund.

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