Transparency in the extractive industry, a 700 thousand USD grant is approved for EITI Albania

2023-12-28 09:55:29Biznes SHKRUAR NGA REDAKSIA VOX

Transparency in the extractive industry, a 700 thousand USD grant is approved

The International Bank for Reconstruction and Development has awarded a grant of 700 thousand dollars for the Initiative for Transparency in the Extractive Industry in Albania, otherwise known as EITI.

The government has approved the letter of agreement with the bank for the financing of the project, which consists of several components. The first part includes reporting support to the international EITI, which is an obligation for Albania as part of this initiative.

The second part envisages support for improving access to EITI data, including, among others: Conducting impact assessments of compliance with existing legislation on the commercial register of beneficial owners, socio-economic conditions of the production industry oil and associated risks and benefits and foreign investment for the extractive sector.

Also, it is intended to carry out some studies on gender reporting and women's participation in the extractive sector, the inclusion of the renewable energy (wind and solar) and gas sector in EITI reporting, including support for the dialogue on the energy transition or conducting analyzes of current legislation on occupational health and safety in the extractive sector.

The third part includes support and capacity building, while the fourth part, project management, including monitoring, evaluation, coordination and supervision and its audit.


Video