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parastatal

Today it means: A company, agency, or intergovernmental organization that possesses political clout and is separate from the government, but whose activities serve the state, either directly or indirectly. Full definition →

First used c. 1920

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The story

From French, equivalent to para- + statal.

First known use, by meaning

c. 1920 A company, agency, or intergovernmental organization that possesses political clout and is separate from the government, but whose activities serve the state, either directly or indirectly.

Etymology from Wiktionary, CC BY-SA 4.0.