TRANSPARANCY INITIATIVE
November 1st, 2003
BY KEITH NUTHALLTHE WORLD Bank and its private sector subsidiary the International Finance Corporation has pledged their support for the Extractive Industries Transparency Initiative launched by British Prime Minister Tony Blair at 2002's Johannesburg sustainable development summit. It aims to improve accounting and auditing controls surrounding lucrative oil, gas and mining contracts in developing countries, where - said the bank - "the lack of accountability and transparency about these revenues can exacerbate poor governance and lead to more corruption, ...
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