African Development Bank makes donation to Mozambique to support membership of EITI

6 October 2010

Maputo, Mozambique, 6 Oct – The government of Mozambique and the African Development bank (ADB) Tuesday in Maputo signed an agreement to provide a donation of US$350,000 to support the Extractive Industries Transparency Initiative (EITI).

The agreement was signed by Mozambique’s Minister for Planning and Development, Aiuba Cuereneia and by the ADB representative, Alice Hamer, and the donation is from the African fund for aid to the private sector, an initiative financed by the Japanese government.

Mozambique had already shown interest in joining the EITI initiative in October 2008 and has made some steps in that direction, namely the creation of the executive secretariat of the EITI.

Mozambique’s EITI candidacy was submitted to the international secretariat in Oslo in April 2009 and approved on 15 May, 2009.

Mozambique has until 14 May, 2011 to draw up the validation report to become a member of the EITI initiative.

The EITI was launched in Johannesburg in October 2002, during the sustainable Development Summit with the aim of improving transparency and accounting/responsibility in countries rich in oil, gas a various other mining resources. (macauhub)