EBRD TRANSPARENCY
March 1st, 2004
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has agreed to formally associate itself with the international Extractive Industries Transparency Initiative (EITI). The bank will henceforth work with the initiative, developing "practical ways to promote its principles", notably that mining companies disclose their financial relationships with governments. The EBRD added that it would "encourage its investment partners and clients to adopt EITI principles".
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has agreed to formally associate itself with the international Extractive Industries Transparency Initiative (EITI). The bank will henceforth work with the initiative, developing "practical ways to promote its principles", notably that mining companies disclose their financial relationships with governments. The EBRD added that it would "encourage its investment partners and clients to adopt EITI principles".
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