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Extractive Industries Transparency Initiative

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Chapter Summary

The Extractive Industries Transparency Initiative (EITI) is a voluntary initiative that supports improved governance in resource-rich countries through the verification and full disclosure of company payments and government revenues from oil, gas, and mining. As the EITI is a voluntary initiative and not a formal organization, there is no membership in the strict sense. It rather invites resource-rich countries to become candidates for validation. The EITI Conference is the highest governing body of the initiative. The EITI is supported bilaterally through contributions from individual governments, and through the EITI Multi-Donor Trust Fund, which is managed by the World Bank. The prudent management of natural resource wealth is central to economic development in resource-rich countries and highly important for international peace and security more broadly.

Keywords: Extractive Industries Transparency Initiative (EITI); international peace; transnational economic governance; World Bank



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