DUSHANBE, September 17, 2012, Asia-Plus  -- The first meeting of the Extractive Industries Transparency Initiative (EITI) Council took place in Dushanbe at the end of last week.

The Ministry of Finance (MoF)’s Secretariat reports the meeting participants included representatives from the relevant ministries and agencies, civil society and mining enterprises, as well as representatives of the World Bank Dushanbe Office, the Open Society Institute/Assistance Foundation (OSI/AF)’s Office in Tajikistan (OSI/AF-Tajikistan), and the German Agency for International Cooperation (GIZ)’s Coordination Office in Dushanbe.

Speaking at the meeting, Deputy Finance Minister, Ruhullo Hakimov, reportedly noted that the process of introduction of EITI in Tajikistan was an important step that would allow using natural resources of the country to provide its sustainable economic growth.

The meeting considered issues related to endorsement of the EITI Council members, the working plan of implementation of EITI for 2012-2014, etc.

The EITI Council members include representatives from relevant ministries and agencies of the country, civil society and mining enterprises, 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.