The Dominican Republic has been admitted to the Extractive Industries Transparency Initiative (EITI), becoming the 50th member country. The country was admitted during the Seventh World EITI Conference held in Lima, Peru where Minister of Energy and Mines Antonio Isa Conde represented the DR.
The DR now needs to prepare and present an initial follow-up report on the application of the EITI standards within 18 months before being declared in fulfillment.
The EITI was designed to increase transparency and accountability in revenue flows between mining, oil and gas companies, and the government.
Companies operating in EITI member countries are required to publish what they pay to governments and governments are required to publish what they receive from companies. These figures are then reconciled by an independent administrator.
A multi-stakeholder group (MSG) that includes representatives from the government, industry and civil society oversees the EITI process in each country.
http://www.mem.gob.do/index.php?option=com_content&view=article&id=266
https://eiti.org
