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Development cooperation, 11/30/2016

EITI, Extractive Industries Transparency Initiative

Description

The Extractive Industries Transparency Initiative (EITI) is a global Standard founded in 2003 to promote the open and accountable management of natural resources. The Standard seeks to addresses the key governance issues of the oil, gas and mining sectors. In each of the implementing countries, the EITI is supported by a coalition of government, companies, and civil society called the Multi Stakeholder Group, MSG. Exercising the EITI Standard is, global recaping and reporting as well as improving of the initiative is guided by the EITI Board. Is has 20 members representing 3 constituencies: 1) implementing and supporting countries, 2) industry and investment companies, and 3) CSOs. The Board is supported by 8 committees: Audit, Finance, Governance, Implementation, Nominations, Outreach and Candidature, Rapid Response Committees, Validation Committees. EITI Charis is Fredrik Reinfeldt. Finland joined EITI in 2009 and has so far funded EITI by 1,3 million euros of which 800.000 was channeled to the World Bank EITI Multi Donor Trust Fund (MDTF) during the years 2009-2011and 500.000 euros to support the EITI International Secretariat during the years 2013-2014. In 2015 Finland decided to support the new World Bank Extractives Global Programmatic Support Multi-donor Trust Fund (EGPS) by 2 million euros. Finland is planning to support the EITI International Secretariat 550,000 euros for the years 2016-2018. Finland belongs to EITI constituency together with other Nordic countries and the UK, Belgium and Spain. Sweden is the Board member as of summer 2016 and Denmark is the alternate member. There are 51 implementing countries in EITI, 31 of them are EITI Compliant, 20 countries are candidate countries incl. USA and Germany. 35 countries have submitted EITI reports and they cover altogether 305 fiscal years with 2.09 trillion USD revenues disclosed in the reports. There are 24 African countries and 23 Fragile and Conflict Affected countries in EITI.

More information

http://www.eiti.org

Funding decision 11/30/2016

550 000 €

Target region

Developing countries (not specified)

Objectives monitored by OECD's Development Assistance Committee

Participatory development/Good governance
Trade development
Gender equality

Field of activity

Mineral/mining policy and administrative management 100%

Type of aid

Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)

Funding channel

Extractive Industries Transparency Initiative International Secretariat
Maailmanpankkiryhmä

Program based

Contact

keo-50

Code for the object of funding

80700177

ID

UHA2016-004386

Created date

8/22/2016

Modified

12/13/2016

Case state

Tecnical planning
Quality assurance group handling
Updating content data

Case status

Pending

This document

Updated 12/14/2016

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