Development cooperation

EITI, Extractive Industries Transparency Initiative

Description

The Extractive Industries Transparency Initiative (EITI) is a global standard founded in 2003 to promote the open and accountable management of natural resources. The standard seeks to address key governance issues in oil, gas and mining sectors. In each of the implementing countries, EITI is supported by a multi-stakeholder group (MSG) that comprises of representatives from government, companies, and civil society. Compliance with the standard, global recapping and reporting, and the development of the initiative are overseen by the EITI Board. The Board has 20 members representing four constituencies: 1) Implementing Countries 2) Supporting Countries 3) Civil Society Organizations 4) Industry and Investment Companies. Eight committees support the Board: Audit, Finance, Governance, Implementation, Nominations, Outreach and Candidature, Rapid Response, Validation. Helen Clark is the EITI Chair. The International Secretariat of the EITI, which is based in Oslo, Norway, supports countries in implementing the standard and serves the EITI Board. Its role specifically includes outreach and advocacy, communicating and sharing lessons learned with stakeholders, providing technical advice, oversight of the validation process and highlighting results in countries. The Secretariat organizes the Board meetings that take place three times a year. It also organizes the EITI Global Conference, which takes place every two to three years, together with supporting and implementing countries. Finland joined EITI as a Supporting Country in 2009 and by 2022 had funded the EITI Secretariat by 1.75 million euros. Additionally, 800 000 euros was channeled to the World Bank EITI Multi-Donor Trust Fund (MDTF) 2009–2011 and 2 million euros was channeled to World Bank Extractives Global Programmatic Support Multi-Donor Trust Fund (EGPS) 2014–2019. Finland's support to the EITI International Secretariat 2023 is 320 000 euros. Finland belongs to EITI sub-constituency together with other Nordic countries (Denmark, Norway, Sweden), UK and Belgium. Currently, Belgium is the Board member and Finland the alternate member. There are over 50 implementing countries in EITI.

More information

www.eiti.org

Funding decision

320 000 €

Objectives monitored by OECD's Development Assistance Committee

  • Participatory development/Good governance
  • Gender equality

Field of activity

  • Domestic Revenue Mobilisation 100%

Funding channel

  • Extractive Industries Transparency Initiative International Secretariat
  • Extractive Industries Transparency Initiative International Secretariat

Contact

keo-50

Code for the object of funding

80700177

ID

UHA2023-002162

Modified

08.11.2023