The Extractives Global Programmatic Support (EGPS) Multi-Donor Trust Fund is the key funding mechanism that assists developing countries to implement the Extractive Industries Transparency Initiative (EITI), the global standard for extractive industries’ transparency. The EITI plays an important role in creating a well-governed extractives sector that delivers positive development outcomes, allowing citizens and civil society to hold government and industry to account. The EITI has created dialogue between governments, industry and civil society, often leading to broader discussions on models for what a good governance in the extractives industries sector should look like.
The EGPS recognizes that transparency and accountability are essential prerequisites for an inclusive and sustainable sector. EGPS has supported: Mongolia, Nigeria, Peru, Philippines and Senegal, all of which achieved satisfactory progress, meaning that all aspects of each EITI requirement have been implemented and the broader objectives of EITI requirements have been fulfilled. EGPS also provided funding for many countries that are part of a larger group achieving meaningful progress, whereby significant aspects of each requirement have been implemented and the broader objectives of the requirements are being fulfilled. These countries’ successes represent significant milestones in the journey towards a transparent, accountable sector globally.
“Accelerating progress towards the routine disclosure of data through government and company systems is a strategic priority for the EITI. There are so many benefits to be gained from this approach, not least the potential to generate more useable and timely data. But there are also obstacles, including capacity. By extending and expanding the EGPS, donors and the World Bank are making an essential contribution to this agenda.” - Mark Robinson, Executive Director, EITI.