Switzerland joins group of EITI supporting countries

The Swiss State Secretariat for Economic Affairs (Seco) made it known on 8 June  that Switzerland will support the EITI with a $3 million (SFr3,27 million) contribution to the EITI Multi Donor Trust Fond. In a statement, Seco said “Switzerland wishes to boost its involvement in internationally coordinated efforts to promote transparency in mining and oil and gas and support the worldwide fight against corruption". On the eve of the "Extracting Natural Resources,

Swissaid Conference: Extracting Natural Resources - Transparency Wins

Doing business in developing countries, oil, gas and mining companies face a harsh environment. Widespread corruption and armed conflicts affect returns while the population of many resource rich countries does not benefit from the riches of these natural resources. However, a new global initiative, the Extractive Industries Transparency Initiative (EITI) is paving the way out of the resource trap with a simple proposition: more transparency.