EITI, EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE

Donor
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 two to three times a year. It also organizes the EITI 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 2019 had funded the EITI Secretariat by 1.05 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 2020–2022 is 700 000 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.
Commitment
USD 245.03
Disbursement
USD 245.03
ChannelName_E
Extractive Industries Transparency Initiative International Secretariat
Year
2022
Finance_Tname_E
Project Number
80700177
Project crsid
2013130300
IncomeGroupNameE
Gender
No
Environment
No