Somit Varma, Director, World Bank/IFC Oil, Gas, Mining and Chemicals Department introduced the session. He noted, "Partly as a result of the EITI, the IFC requires that the private companies with which it works must disclose their financial information on their Web sites." Sanjay Pradhan, Sector Director, Poverty Reduction Public Sector Department, commented on the relationship of the EITI to the World Bank's Governance and Anticorruption Program. "The EITI is an important tool in the World Bank's arsenal to fight corruption," he said. Paulo de Sa, Manager, Oil, Gas, and Mining Policy Division remarked that the publication will be the basis for learning and outreach programs going forward in the World Bank and externally. Eleodoro Mayorga Alba, Africa Region Coordinator, Oil, Gas, and Mining Policy Division, explained the relation of the EITI program to the recently announced EITI++ (new title in discussion) proposal. He covered the EI value chain from awarding contracts to implementing sustainable projects.

The following question and answer session was very lively. Some audience members questioned the involvement of national oil companies and how they are being held accountable. Mr. de Sa replied that many large investment companies are involved in the EITI and that they require their clients to subscribe to the EITI. Another question came from a Global Witness representative. She asked if the World Bank would be addressing the issue of NGO members, who have been threatened or imprisoned in relation to their participation in the EITI. Mr. de Sa responded that this issue is frequently a focal point for the EITI Board.

After the session, a lunch break was held in the InfoShop for further discussions and to allow participants to purchase the publication.

Click here to see the publication.

The book is being distributed by the Office of the Publisher to all sector and country managers, Executive Directors, Public Information Centers, Depository Libraries, and booksellers. The Oil, Gas, and Mining Policy Division has made the publication available on its Web site and is distributing the publication, through its Task Team Leaders, to the EITI Secretariats in their countries of responsibility to donors and to other MDBs.