The primary beneficiaries of EITI are the governments and citizens of resource-rich countries.
Knowing what companies pay and what governments receive is a critical first step to holding decision-makers accountable for the use of revenues.
Resource-rich countries implementing EITI can benefit from an improved investment climate by providing a clear signal to investors and to international financial institutions that the government is committed to strengthening transparency and accountability.
Companies and investors, by supporting EITI in countries where they operate, can help mitigate investment risk.
Civil society can benefit from an increased amount of information in the public domain about those revenues that governments manage on behalf of citizens.
In summary, implementing EITI as part of a program of improved governance will help to ensure that oil, gas, and mining revenues contribute to sustainable development and poverty reduction.
The benefits of implementing the EITI are numerous, some of them are:
- Improved governance
- Improved revenue collection
- One of the tools for fighting corruption
- Provides a forum for collaboration
- Improves the country’s sovereign and corporate rating leading to increased investment
- Provides a basis for public engagement
- Improves corporate risk management
- Influences Government policy to ensure that the country maximizes benefits from its natural resources and reduces levels of poverty
Reduces risk of conflict