International cooperation between donor countries is coordinated by the Development Assistance Committee (DAC) that was set up by the OECD in 1961. The DAC comprises the 29 member states of the OECD and the European Union. The World Bank, the International Monetary Fund and the United Nations Development Programme have observer status.
The DAC defines and monitors development policy standards and explains how official development assistance should be provided to achieve optimal effectiveness. Its mandate is to contribute to sustainable development: this includes, for example, pro-poor economic growth, poverty reduction, and improvement of living standards in developing countries.
The DAC also opens its doors to non-member countries that contribute to development cooperation. For example, countries like Brazil, China, India, Indonesia and South Africa have attended DAC meetings.