The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and world trade. The majority of OECD members are high-income economies ranked as "very high" in the Human Development Index, and are regarded as developed countries. OECD member countries account for three-fifths of world GDP, three-quarters of world trade, over 90 percent of global official development assistance, half of the world’s energy consumption, and 18 percent of the world’s population. The OECD provides a setting where governments can compare experiences, seek answers to common challenges, identify good practices, and develop high standards for economic policy. The organization works to build better policies for better lives. The European Commission participates in the work of the OECD alongside the EU member states. The OECD also designates Brazil, China, India, Indonesia, and South Africa as Key Partners, which participate in policy discussions in OECD bodies, and take part in regular OECD surveys.