EITI, Extractive Industries Transparency Initiative
Development cooperation , 01.10.2019

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 addresses the key governance issues of the oil, gas and mining sectors. In each of the implementing countries, the EITI is supported by a coalition of government, companies, and civil society called the Multi Stakeholder Group, MSG. Exercising the EITI Standard is, global recaping and reporting as well as improving of the initiative is guided by the EITI Board. It has 20 members representing 4 constituencies: 1) Implementing countries 2)Supporting Countries 3) CSOs 4) Industry and investment companies. The Board is supported by 8 committees: Audit, Finance, Governance, Implementation, Nominations, Outreach and Candidature, Rapid Response Committees, Validation Committees. EITI Char is Helen Clark. The International Secretariat of the EITI 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 further organises the EITI Conference taking place every two to three years. It does this jointly with supporting and implementing countries. It also organises the Board meetings that take place two to three times a year. The Secretariat is based in Oslo, Norway. Finland joined EITI in 2009 and has so far funded EITI Secretariat by 1.05 million euros. In connection to supporting EITI, 800.000 euros was channeled to the World Bank EITI Multi Donor Trust Fund (MDTF) during the years 2009-2011 and 2 million euros to World Bank Extractives Global Programmatic Support Multi-donor Trust Fund (EGPS) during 2014-2019. Finlands support to the EITI International Secretary in 2020-2022 is 700 000 euros. Finland belongs to EITI sub-constituency together with other Nordic countries, UK and Belgium. Norway is the Board member as of summer 2019 and Finland is the alternate member. Finland will become a member of the Board for one year in 6/2020. There are 52 implementing countries in EITI of which 24 are African countries and 23 Fragile and Conflict Affected countries.

More information

www.eiti.org

Funding decision  01.10.2019

700 000 €

Target region

Developing countries

Objectives monitored by OECD's Development Assistance Committee

  • Participatory development/Good governance

Field of activity

  • Domestic Revenue Mobilisation 100%

Type of aid

Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)

Funding channel

  • Extractive Industries Transparency Initiative International Secretariat
  • Maailmanpankkiryhmä

Contact

keo-50

Code for the object of funding

80700177

ID

UHA2019-006150

Modified

11.11.2019