World Bank Calls on Candidate Nations to Finish EITI Validation Process

The World Bank urged candidate countries of the Extractive Industries Transparency Initiative to complete the validation process as soon as possible. EITI is a coalition of governments, companies, civil society groups, investors and international organizations seeking to commit oil, gas, and mining companies to make publicly available the payments they make to governments, and governments to publish the revenues they receive from these firms.

“The World Bank Group is encouraged by the tremendous progress that has been made and we are supporting several countries in their efforts to finish the validation process,” said Paulo de Sa, manager of the World Bank’s oil, gas, and mining policy division. “Transparency in the extractive industries is vital for achieving poverty reduction, and so we ask countries not to give up on its efforts.”

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.