Saturday, October 22, 2011

The World Bank praised Ukraine for its accession to the EITI

Joining of Ukraine to the Extractive Industries Transparency Initiative (EITI) will allow the state to attract a greater number of serious investors expressed this opinion in an interview to ZN. Ukraine World Bank Country Director for Ukraine, Belarus and Moldova Martin Raiser. «EITI - a tripartite partnership of business, government and civil society ... Business is interested in the EITI, it supports this initiative, because he wants transparency, because transparency means safety ... If your contract is transparent and competitive, then civil society can monitor your contribution to the budget, and suddenly you get a like-minded people among its citizens. Then it is not against business people and business to people. And for most entrepreneurs is a tremendous advantage, "- said Reiser. According to him, the government is beneficial because it allows to attract more investors, and serious. Also in the context of extremely low international ratings of Ukraine on fight against corruption and for transparency, according to M. Reiser, is a good way to demonstrate efforts to improve the situation. "I think that these arguments are so strong that we will see progress on EITI in Ukraine - it is something we very much welcome, and I think it will happen" - said Reiser. EITI (Extractive Industries Transparency Initiative) - a world standard that promotes revenue transparency of oil, gas and mining industries, involving a coalition of governments, companies, groups, NGOs, investors and international organizations. EITI defines the methodology by which ensured compliance with world standards in all implementing countries.

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