In many countries, revenues from oil, gas and minerals are often associated with poverty, conflict and corruption. This is commonly called "natural resource curse" - which often takes a lack of transparency and failure to comply with the obligation to account for the payments that mining companies make to the Government and revenues that governments receive from these companies under exploration and exploitation of oil, gas and mining.
The question is: "how so resources-rich populations are yet so poor?" This is called "the paradox of plenty."
The Extractive Industries Transparency Initiative (EITI) aims to reverse this trend.
Launched on a voluntary basis and benefiting from the support of a coalition of companies, governments, investors and civil society organization, EITI promotes transparency of the budgetary practices of the state, initiating a process that will allow citizens to hold their government accountable on the use of oil, gas and mining revenues.
The purpose of EITI is to ensure that the revenues from the extractive industries contribute to a sustainable development that substantially improves the living standards of people and especially the poor.
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