EITI welcomes ADB endorsement

The Asian Development Bank has formally endorsed the Extractive Industries Transparency Initiative. EITI Chairman Dr Peter Eigen welcomed this announcement: "The ADB joins a growing coalition of countries, organizations, companies and investors committed to promoting resource revenue transparency, and with a shared goal of ensuring that exploitation of natural resources fosters economic growth and reduces poverty. We look forward to a close working relationship with the ADB to promote the EITI principles in Asia".