Beneficial ownership transparency - knowing who ultimately controls and benefits from a company - is critical to fighting corruption and preventing illicit financial flows. Making beneficial ownership transparency the norm in the extractives sector can reduce the potential for corrupt activity in a sector that often yields significant revenues. New research has shown that there is both high demand for technical assistance to achieve beneficial ownership transparency,
Resource-dependent countries face many obstacles in adhering to principles of good extractives governance, including corruption and mismanagement. Enhanced fiscal transparency is vital for addressing these challenges. It is a goal shared by the EITI and the International Budget Partnership (IBP).
Gender provisions in the 2019 EITI Standard is starting to inform more inclusive decision-making, but there is still a long way to go
If extractives resources are to benefit all citizens, both women and men need to be included in the sector’s governance and have equal access to employment opportunities. Yet the extractive industries are disproportionately governed and operated by men, and sector-specific policies that take gender into account are relatively scarce.
Everyone agrees that measuring the impact of the EITI is essential - and that doing this properly is notoriously difficult
The Covid-19 pandemic and associated economic downturn is an unprecedented global shock. It has challenged those working in development to redouble their efforts to promote social justice, equality and sustainability. Through the crisis,
Just over six months remain until EITI implementing countries will be required to publish new or amended extractives agreements. Ahead of this milestone, we take stock of the progress and bottlenecks in contract transparency to date.
Governments and companies who publish contracts in accordance with the EITI Standard offer stakeholders the information to understand and monitor compliance with the terms,
This blog is co-authored by the World Bank EGPS Multi-Donor Trust Fund and the EITI. The World Bank’s Extractives Global Programmatic Support (EGPS) Multi-Donor Trust Fund supports developing countries govern their oil, gas and mineral resources in a sustainable and transparent manner to reduce poverty and boost shared prosperity.
Madagascar makes progress in extractives sector disclosures, but has yet to achieve its potential for systematic transparency.
Following its second Validation, Madagascar achieved meaningful progress in implementing the EITI Standard, with considerable improvements across several requirements.
As a low-income country, Madagascar’s economy depends significantly on the extractives sector. In 2018, the sector contributed 4.41% to the country’s GDP and over a quarter of total exports.
State-owned enterprises (SOEs) play a central role in Myanmar’s economy. According to the latest EITI Report, nearly 80% of extractives revenues are collected by SOEs, predominantly from the oil and gas sector. EITI reporting sheds light on a recent reform to improve the transparency on how these revenues are managed.
Since Myanmar began implementing the EITI in 2014, EITI reporting has played an important role in providing data to inform extractives sector reforms.
Countries that depend on revenues from oil, gas and mining are facing a triple crisis. In this blog, I highlight three areas where transparency can help shore up hard won gains in sector accountability through these difficult times.
For resource-rich countries, the Covid-19 pandemic is posing a triple crisis. First, it is placing a huge strain on public health systems as countries struggle to cope with the growing spread of the virus across the world. Second,
Guyana, a small South American nation of less than 800,000 inhabitants, holds remarkable oil reserves. Recent discoveries looked certain to transform Guyana’s economy, and the IMF estimated a 52.8% growth in Guyana’s GDP in 2020. However,