DUSHANBE, November 15, 2012, Asia-Plus — Prospects for introduction of the Extractive Industries Transparency Initiative (EITI) in Tajikistan has been discussed in Dushanbe.
Organized by the Ministry of Finance (MoF) in cooperation with the World Bank, the Open Society Institute (OSI) and the German Agency for International Cooperation (GIZ), a three-day conference to discuss prospects for introduction of the EITI in Tajikistan concluded in Dushanbe on November 14.
According to the MoF Secretariat, the conference brought together representatives from public institutions, mining companies and NGOs.
During the conference, Deputy Finance Minister, Shavkat Sohibov, read out an official statement on Tajikistan’s joining the Extractive Industries Transparency Initiative that was endorsed by the government on August 31, this year.
The conference participants noted that joining the EITI would give Tajikistan an opportunity to improve its investment attractiveness and confirm the status of the country adhering to transparency and responsibility over acquisition of incomes and efficient expenditure of them.
The Extractive Industries Transparency Initiative, EITI, is the widely-accepted international framework for strengthening transparency and accountability in the extractives sector. It was launched in 2002, and is currently implemented in 35 countries across the globe. It is unique in terms of bringing together representatives from three different groups – private sector, civil society and Government – to work together, through the verification and full publication of company payments and government revenues from oil, gas, and mining.
Adherence to and implementation of EITI is crucial for Tajikistan’s economic and social development. Recent mining reforms and mineral discoveries are likely to significantly expand the extractive sector in Tajikistan. Yet, these resources are not renewable and therefore need to be managed very carefully. In this context, EITI will bring many benefits to Tajikistan: an improved investment climate, a signal to international investors that the government has a clear commitment to transparency and good governance, and strengthened accountability vis-à-vis the people of Tajikistan.
The World Bank has strong experience in EITI implementation around the globe. Appointed as administrator of a Multidonor Trust Fund that has nearly US$50 million in contributions from 14 donors, the World Bank currently works in 50 countries worldwide to provide technical assistance to EITI and to support EITI dialogue in countries that are just considering becoming a part of the initiative.
