Ecobreves – HONDURAS: In Search of Greater Transparency in the Extractive Industries

By IPS Correspondents Reprint | | Print |

TEGUCIGALPA, Dec 10 2012 (IPS) - The World Bank will be advising Honduras on the requirements to join the Extractive Industries Transparency Initiative (EITI). In late November, the government adopted a decree on EITI membership, reported presidential aide Roberto Herrera Cáceres. Now a World Bank mission will guide the country through the necessary requirements to be admitted to the initiative.

The EITI is an international coalition of governments, the private sector and civil society aimed at enhancing governance in countries rich in natural resources through the publication and verification of payments made by companies and tax revenues earned from the oil, gas and mining industries.

In a year and a half, the Honduran authorities plan to present a report to the EITI Board in order to gain admission, Herrera told Tierramérica. The funds received will be used for sustainable and human development projects.