WASHINGTON, April 12, 2008 -World Bank Group President Robert B. Zoellick today announced a new initiative to help developing countries manage and transform their natural resource wealth into long-term economic growth that spreads the benefits more fairly among their people.

The Extractive Industries Transparency Initiative Plus Plus (EITI++) seeks to develop national capability to handle the boom in commodity prices, and channel the growing revenue streams into fighting poverty, hunger, malnutrition, illiteracy, and disease.