Transparency in Extractive Industries
Paul Wolfowitz, President of the World Bank, discussed the fight against poverty during the last 20 years, during which East Asian countries have made progress, but Sub-Saharan African poverty has doubled. Oil revenues far exceed official development assistance. Yet for some countries it has been mo...
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| Format: | Speech |
| Language: | English en_US |
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2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/02/25887913/transparency-extractive-industries-extractive-industries-transparency-initiative-eiti-conference-oslo-norway-paul-wolfowitz-president http://hdl.handle.net/10986/24896 |
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okr-10986-248962021-04-23T14:04:20Z Transparency in Extractive Industries Wolfowitz, Paul LIVING STANDARDS RESOURCE-RICH COUNTRIES EXTRACTIVE INDUSTRIES GRANT ADVOCACY INVESTORS GOOD VILLAGES CHECKS CORRUPT POLICIES TRANSPARENCY GOVERNANCE ISSUES PARTICIPATION FUTURE INTEREST CRIMES BANK GOVERNMENT CORRUPT OFFICIALS TRANSPARENCY INITIATIVE GOOD GOVERNANCE DEVELOPING COUNTRIES REVENUES REVENUE MANAGEMENT MINISTER EI REVENUES BEST PRACTICE CAPACITY BUILDING GAS ASSETS WORKSHOPS CORRUPTION POLICY CIVIL SOCIETY ORGANIZATIONS GOVERNANCE THEFT ECONOMIC CRIMES INVESTMENT OIL EXTREME POVERTY PARTICIPATORY PROCESSES ACTIVE INVOLVEMENT SHARE FINANCIAL CRIMES POVERTY CIVIL SOCIETY REVENUE INITIATIVE STAKEHOLDER LAW FINANCIAL SUPPORT INVESTMENTS CAPACITY BUILDING WORKSHOPS TRUST FUND LEADERSHIP ORGANIZATIONS EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE RESOURCE CURSE RETURN EITI ACCESS CIVIL SOCIETY GROUPS PROFITS GOVERNMENTS NATURAL RESOURCES EXTRACTIVE SECTOR RULE OF LAW GUARANTEE MINERAL WEALTH DEVELOPMENT BANK ECONOMIC AND FINANCIAL CRIMES COMMISSION MINERALS INVESTING Paul Wolfowitz, President of the World Bank, discussed the fight against poverty during the last 20 years, during which East Asian countries have made progress, but Sub-Saharan African poverty has doubled. Oil revenues far exceed official development assistance. Yet for some countries it has been more of a curse than a blessing. Corruption and waste has led to distorted economies and demoralized societies in which government power has become an object of plunder leading to civil war and social chaos. The Extractive Industries Transparency Initiative (EITI) aims to improve governance in resource-rich countries through disclosure and verification of company payments and government revenues from oil, gas, and mining. It focuses on transparency, which is one important aspect of governance—but it is an important step towards transforming resources into real development impact, to real effect on the lives of the poor. He spoke about EITI process still facing many challenges ahead. If EITI is to succeed, it must engage every group that has a stake in the country’s future. EITI process requires governments to significantly increase their capacity while coping with other pressing demands. Making EITI succeed means going beyond just EITI in making revenues more transparent. We need to begin a vigorous effort in the area of helping countries recover stolen assets. For most countries EI revenues by themselves will not be enough by themselves to guarantee higher living standards for all citizens. We must do everything we can to help these countries transform their wealth into a brighter future for every citizen. 2016-08-16T17:56:17Z 2016-08-16T17:56:17Z 2006-10-16 Speech http://documents.worldbank.org/curated/en/2016/02/25887913/transparency-extractive-industries-extractive-industries-transparency-initiative-eiti-conference-oslo-norway-paul-wolfowitz-president http://hdl.handle.net/10986/24896 English en_US Remarks at Extractive Industries Transparency Initiative Conference, Oslo, Norway, October 16, 2006; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Speech Europe and Central Asia Sub-Saharan Africa Burkina Faso Guinea Indonesia Nigeria Norway |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
LIVING STANDARDS RESOURCE-RICH COUNTRIES EXTRACTIVE INDUSTRIES GRANT ADVOCACY INVESTORS GOOD VILLAGES CHECKS CORRUPT POLICIES TRANSPARENCY GOVERNANCE ISSUES PARTICIPATION FUTURE INTEREST CRIMES BANK GOVERNMENT CORRUPT OFFICIALS TRANSPARENCY INITIATIVE GOOD GOVERNANCE DEVELOPING COUNTRIES REVENUES REVENUE MANAGEMENT MINISTER EI REVENUES BEST PRACTICE CAPACITY BUILDING GAS ASSETS WORKSHOPS CORRUPTION POLICY CIVIL SOCIETY ORGANIZATIONS GOVERNANCE THEFT ECONOMIC CRIMES INVESTMENT OIL EXTREME POVERTY PARTICIPATORY PROCESSES ACTIVE INVOLVEMENT SHARE FINANCIAL CRIMES POVERTY CIVIL SOCIETY REVENUE INITIATIVE STAKEHOLDER LAW FINANCIAL SUPPORT INVESTMENTS CAPACITY BUILDING WORKSHOPS TRUST FUND LEADERSHIP ORGANIZATIONS EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE RESOURCE CURSE RETURN EITI ACCESS CIVIL SOCIETY GROUPS PROFITS GOVERNMENTS NATURAL RESOURCES EXTRACTIVE SECTOR RULE OF LAW GUARANTEE MINERAL WEALTH DEVELOPMENT BANK ECONOMIC AND FINANCIAL CRIMES COMMISSION MINERALS INVESTING |
| spellingShingle |
LIVING STANDARDS RESOURCE-RICH COUNTRIES EXTRACTIVE INDUSTRIES GRANT ADVOCACY INVESTORS GOOD VILLAGES CHECKS CORRUPT POLICIES TRANSPARENCY GOVERNANCE ISSUES PARTICIPATION FUTURE INTEREST CRIMES BANK GOVERNMENT CORRUPT OFFICIALS TRANSPARENCY INITIATIVE GOOD GOVERNANCE DEVELOPING COUNTRIES REVENUES REVENUE MANAGEMENT MINISTER EI REVENUES BEST PRACTICE CAPACITY BUILDING GAS ASSETS WORKSHOPS CORRUPTION POLICY CIVIL SOCIETY ORGANIZATIONS GOVERNANCE THEFT ECONOMIC CRIMES INVESTMENT OIL EXTREME POVERTY PARTICIPATORY PROCESSES ACTIVE INVOLVEMENT SHARE FINANCIAL CRIMES POVERTY CIVIL SOCIETY REVENUE INITIATIVE STAKEHOLDER LAW FINANCIAL SUPPORT INVESTMENTS CAPACITY BUILDING WORKSHOPS TRUST FUND LEADERSHIP ORGANIZATIONS EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE RESOURCE CURSE RETURN EITI ACCESS CIVIL SOCIETY GROUPS PROFITS GOVERNMENTS NATURAL RESOURCES EXTRACTIVE SECTOR RULE OF LAW GUARANTEE MINERAL WEALTH DEVELOPMENT BANK ECONOMIC AND FINANCIAL CRIMES COMMISSION MINERALS INVESTING Wolfowitz, Paul Transparency in Extractive Industries |
| geographic_facet |
Europe and Central Asia Sub-Saharan Africa Burkina Faso Guinea Indonesia Nigeria Norway |
| relation |
Remarks at Extractive Industries Transparency Initiative Conference, Oslo, Norway, October 16, 2006; |
| description |
Paul Wolfowitz, President of the World Bank, discussed the fight against poverty during the last 20 years, during which East Asian countries have made progress, but Sub-Saharan African poverty has doubled. Oil revenues far exceed official development assistance. Yet for some countries it has been more of a curse than a blessing. Corruption and waste has led to distorted economies and demoralized societies in which government power has become an object of plunder leading to civil war and social chaos. The Extractive Industries Transparency Initiative (EITI) aims to improve governance in resource-rich countries through disclosure and verification of company payments and government revenues from oil, gas, and mining. It focuses on transparency, which is one important aspect of governance—but it is an important step towards transforming resources into real development impact, to real effect on the lives of the poor. He spoke about EITI process still facing many challenges ahead. If EITI is to succeed, it must engage every group that has a stake in the country’s future. EITI process requires governments to significantly increase their capacity while coping with other pressing demands. Making EITI succeed means going beyond just EITI in making revenues more transparent. We need to begin a vigorous effort in the area of helping countries recover stolen assets. For most countries EI revenues by themselves will not be enough by themselves to guarantee higher living standards for all citizens. We must do everything we can to help these countries transform their wealth into a brighter future for every citizen. |
| format |
Speech |
| author |
Wolfowitz, Paul |
| author_facet |
Wolfowitz, Paul |
| author_sort |
Wolfowitz, Paul |
| title |
Transparency in Extractive Industries |
| title_short |
Transparency in Extractive Industries |
| title_full |
Transparency in Extractive Industries |
| title_fullStr |
Transparency in Extractive Industries |
| title_full_unstemmed |
Transparency in Extractive Industries |
| title_sort |
transparency in extractive industries |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/02/25887913/transparency-extractive-industries-extractive-industries-transparency-initiative-eiti-conference-oslo-norway-paul-wolfowitz-president http://hdl.handle.net/10986/24896 |
| _version_ |
1764456102072680448 |