developed countries (DCs)
the top group in the comprehensive but mutually exclusive hierarchy of developed countries (DCs), former USSR/Eastern Europe (former USSR/EE), and less developed countries (LDCs); includes the market-oriented economies of the mainly democratic nations in the Organization for Economic Cooperation and Development (OECD), Bermuda, Israel, South Africa, and the European ministates; also known as the First World, high-income countries, the North, industrial countries; generally have a per capita GNP/GDP in excess of $10,000 although four OECD countries and South Africa have figures well under $10,000 and two of the excluded OPEC countries have figures of more than $10,000; the 35 DCs are: Andorra, Australia, Austria, Belgium, Bermuda, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greece, Holy See, Iceland, Ireland, Israel, Italy, Japan, Liechtenstein, Luxembourg, Malta, Mexico, Monaco, Netherlands, NZ, Norway, Portugal, San Marino, South Africa, Spain, Sweden, Switzerland, Turkey, UK, US
——-
developing countries
an imprecise term for the less developed countries with growing economies; see less developed countries (LDCs)
——-
East African Development Bank (EADB)
established - 6 June 1967
effective - 1 December 1967
aim - to promote economic development