The EITI is the abbreviation for Extractive Industries Transparency Initiative. The EITI is the global standard for promoting transparency and accountability in counties rich in oil, gas and mineral resources. The initiative emerged as a means to mitigate the outcomes of low per capita growth, slow progress on human development, and social and political instability common to resources rich developing countries.
EITI is a government led initiative with active support of companies, civil society groups, investors and international organizations. The initiative provides a platform for stakeholders (government, industry, civil society organizations) to systematically review, assess, and report on what is being paid by companies and received by governments from extractive industry operations.
This is accomplished through the establishment of an EITI multistakeholder steering committee or group (MSG) that is led by government. Key functions of the MSG include: setting strategic direction of the initiative, defining the reporting scope of the initiative in each country, developing the national EITI work plan, and conducting the