The EITI International Secretariat has entered into a new five-year partnership agreement with the European Union that secures vital funding to improve extractives transparency and build more sustainable raw material supply chains.
The agreement provides EUR 2.5 million of EU support to EITI over the period 2023 to 2027. It builds on the Commission and EITI's collaboration since 2016 to support EITI implementing countries to achieve inclusive and sustainable economic growth and strengthen domestic resource mobilisation.
Funding will enable the EITI International Secretariat to provide technical assistance to stakeholders, including training to implement the requirements of the EITI Standard. The grant will support the International Secretariat to conduct Validations of countries to assess their progress in implementation of the EITI Standard. It will also provide resources for the International Secretariat to conduct missions to countries that require extra assistance to improve performance. Finally, the partnership will fund outreach activities to prospective new members.
“The renewed partnership with the European Union comes at a pivotal time for the transparency agenda,” said Mark Robinson, the EITI Executive Director. “The EITI Standard is evolving to address energy transition, corruption risks and gender equality. We are grateful to the European Commission for providing multi-year financial support for capacity building, validation, outreach and missions to countries that implement the EITI Standard.”
The European Commission recognises that the EITI provides a global standard and a multi-stakeholder process for delivering greater transparency and accountability in the raw materials sector, and that the International Secretariat provides high-quality support and capacity development to partner countries. The partnership with the EITI also aligns with EU strategic objectives on the green and digital transitions, supporting local value addition in partnership with third countries, environmental and social governance standards, and improving the investment climate with due diligence requirements.