M a r k e t N e w s
Burundi commits to implement the EITI
Posted on : Thursday , 5th February 2015
The Government of the Republic of Burundi formally committed to implement the Extractive Industries Transparency Initiative, EITI Standard in a declaration published by Come Manirakiza, Minister of Energy and Mine on 20 January 2015 in Bujumbura.
According to Manirakiza, Burundi hopes that this will increase transparency in the management of natural resources in the East Africa Community country. Natural resources, primarily artisanal mining, are expected to account for 30% of the country’s GDP according to the government Second Poverty Reduction Strategy Paper (2012-2015).
“We are committed to implement the EITI, as it is in line with our policy to promote transparency and accountability in the management of our natural resources”, said Manirakiza.
Already Burundi with support from the World Bank and GIZ has carried out a scoping study to identify potential barriers to EITI implementation and that will prepare it for a candidature application.
The commitment follows the declaration of Heads of States of the International Conference of the Great Lakes Region (ICGLR), in which the President Pierre Nkurunziza, along with 11 other Heads of States in the region encouraged each other to accede to the EITI as a tool to mitigate illegal exploitation of their countries’ natural resources.
Three East African countries including Seychelles Tanzania and Ethiopia are members of the EITI although the latteris yet to comply with the requirements by the initiative
Source : OIL NEWS KENYA
