Known at first as the Development Assistance Group (DAG), the committee was set up on 13 January 1960 under the auspices of the OECD's forerunner, the Organisation for European Economic Co-operation (OEEC). Its first meeting took place in Washington, D.C. (U.S.A.) on 9–11 March 1960, chaired by ambassador Ortona, Italy. A primary concern of the DAG, addressed at its second (July 1960) and third (October 1960) meetings, was to achieve accurate and comparable data reporting by its members on their aid flows to developing countries. In March 1961, the OEEC published the first comprehensive survey of "The Flow of Financial Resources to Countries in Course of Economic Development, 1956-59". This was followed by annual reports until 1964.