sharing in governance of extractive industries

AfDB supports Mozambique's EITI with $350,000 grant

The African Development Bank (AfDB) will support Mozambique’s efforts to improve its extractive industries operations following the signing of a USD 350,000 grant agreement by the two sides
on Tuesday, 5 October 2010 in Maputo.

The agreement for the grant from Japan’s bilateral support to the Bank through the Fund for African Private Sector Assistance (FAPA) was jointly signed by Mozambique’s planning and
development minister, Aiuba Cuereneia, and the AfDB’s Resident
Representative in Mozambique. Alice Hamer. Japan’s Ambassador to
Mozambique, Susumu Segawa, also attended the signing ceremony.

The grant will finance 31% of the country’s Extractive Industries Transparency Initiative (EITI) activities aimed at improving the business environment and mitigating risks through greater
transparency and accountability in the development and management of
Extractive Industries (EI) operations. The World Bank and the UK
Department for International Development (DFID) are also supporting the

The FAPA funds will be used to finance the preparation of the first EITI report on training and knowledge transfer activities, including the preparation of the validation report.
Mozambique’s bid to adhere to the initiative was launched in October,
2008, and reflects the country's efforts to improve governance in the
extractive industry sector.

Speaking after the signing ceremony, Ms Alice Hamer urged the authorities to avoid the “resource curse” that still affects many African resource-rich countries. In response, Mr. Aiuba Cuereneia
reiterated the government’s commitment to use the allocated funds only
to implement the EITI process and, most importantly, the design and
submission of the validation report next year.

The EITI initiative was launched in Johannesburg in October 2002 during the “Sustainable Development World Summit” with the objective of improving transparency and accountability in extractive
industries. Since its launch, the government has made important strides
towards implementing the initiative, and Mozambique has until May 2011
to implement the validation report in order to become EITI compliant.

Available: http://bit.ly/92gwRS

Views: 119

Add a Comment

You need to be a member of GOXI to add comments!



           GOXI Partners


  • Add Videos
  • View All

© 2019   Created by Kobina Aidoo.   Powered by

Badges  |  Report an Issue  |  Terms of Service