Launch of Extractive Industries Transparency Initiative (EITI) website
DFID, in partnership with the World Bank, have launched the 
new
EITI website
The Extractive Industries Transparency Initiative (EITI) was launched by Tony Blair at the World Summit on Sustainable Development in Johannesburg in September 2002. Its aim is to increase transparency of payments by companies to governments and transparency of revenues received by those governments.
Extractive industries (oil, gas, mining) are important natural resources which, given careful management, could play a crucial role in sustaining livelihoods and alleviating poverty. Revenues from oil, gas and mining companies should serve as a powerful engine of growth in many developing countries, but a lack of accountability and transparency in these revenues can lead to corruption, conflict and poverty.
Increasing transparency will empower citizens and institutions to hold governments to account, benefit developing and transition economies by improving the investment climate, and allow companies to enjoy a more stable business environment.
