Extractive Industries Transparency Initiative (EITI) Approves Ethiopia’s Candidacy

The international Extractive Industries Transparency Initiative (EITI) board, met in Oslo, approved (March 19) Ethiopia’s application for EITI candidature to its global standard on transparent management of oil, gas and mineral resources.

EITI Chair, Clare Short said that she was pleased with the Board decision to accept Ethiopia as an EITI Candidate country. She noted that in the case of Ethiopia, the decision shows that the Board was convinced by the government’s commitment to the EITI’s principles and added that membership of the EITI will mean that all stakeholders, including civil society, will have a better platform to hold the government and the companies to account and ensure the better management of the burgeoning sector.

Ethiopian Minister of Mines, Tolesa Shagi, wrote to the Board to assure them that “the Ethiopian Government is highly committed to work with Civil Societies to ensure their engagement in the Ethiopian EITI.”

Similarly Manager of the Gas, Oil, Mining Unit of the Sustainable Energy Department of the World Bank, Paulo de Sa stated that the World Bank applauds the step Ethiopia has taken to engage on transparency issues.

The Extractive Industries Transparency Initiative (EITI) is a global coalition of governments, companies and civil society working together to improve openness and accountable management of revenues from natural resources. A candidate country has three years to achieve compliance with the EITI standard, which is a global initiative to encourage governments to better manage natural resource revenues.

Source : Government of Ethiopia

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