DUSHANBE, September 26, 2011, Asia-Plus  -- Issues related to development of the Extractive Industries Transparency Initiative (EITI) in Tajikistan were discussed here on Saturday at a meeting of Deputy Finance Minister, Jamshed Norinov, with representatives of the World Bank and other international organizations active in Tajikistan, the Ministry of Finance (MoF) Secretariat reports.

The meeting participants, in particular, discussed the results of a seminar on promotion of EITI in Tajikistan that took place in Dushanbe in June.

Tajik deputy minister reportedly noted that the Government of Tajikistan has taken efforts in recent year to intensify economic reforms and promote integration of the country into the world economy.

The sides expressed readiness for further cooperation on making concerted decisions on promoting EITI in Tajikistan, the source said.       

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.

In order to formally be accepted as an “EITI candidate” country, Tajikistan will have to fulfill a number of requirements, including a formal public announcement, a firm commitment to working with the civil society, establishment of a Multistakeholder group, appointment of an “EITI Champion” to pilot the initiative, and publication of a work plan.

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.  The particular role of the World Bank in EITI was covered during the event, which stands ready to support EITI in Tajikistan.