The Extractive Industries Transparency Initiative (EITI) supports improved governance in resource-rich countries through the verification and full publication of company payments and government revenues from oil, gas, and mining. The Initiative works to build multi-stakeholder partnerships in developing countries in order to increase the accountability of governments.
Good governance is a precondition for converting large revenues from extractive industries into economic growth and poverty reduction. When transparency and accountability are weak, the extractive industries may instead contribute to poverty, corruption, and conflict—the so-called “resource curse.” The EITI is an important step in defeating this “curse.”
The Government of Equatorial Guinea is committed to the values set forth in the EITI. Fully compliant with EITI protocols, the Government is working with its international business partners to develop a strong, transparent government reporting system. |
