The Dominican Republic will represent Latin American and Caribbean countries on the EITI board of directors

This MEM release was published using machine translation.

The Dominican Republic was chosen as holder, representing the countries of Latin America and the Caribbean, to be part of the Board of Directors of the Extractive Industries Transparency Initiative (EITI).

The EITI Board of Directors maintains the EITI Standard, which promotes transparency, good governance and accountability for revenues from mining.

The information was released today by the Minister of Energy and Mines, Antonio Almonte, who revealed that it is the first time that the country is part of the EITI Board of Directors.

He assured that the Dominican Republic will work hard to promote the mission of the EITI, which is based on the conviction that natural resources belong to its citizens and that, therefore, accountability in the public and corporate spheres is not only a good practice but a duty.

The election of the Dominican Republic for the Board of Directors took place within the framework of the 57th EITI Global Conference, which takes place in Dakar, Senegal and is attended by the Vice Minister of Mines, Miguel Ángel Díaz, representing Minister Almonte.

Through the implementation of the EITI Standard, countries commit to disclosing information along the extractive industries value chain, from how rights to extractive activities are granted, to how revenues arrive. governments and how they benefit the population.

In addition to setting the organization's priorities, the EITI Board assesses countries' progress in meeting the EITI Standard, which is a set of rules that determine what must be disclosed and when.

More than 50 countries have committed to strengthening transparency and accountability in the management of their extractive sectors with a view to achieving global growth, sustainable development and poverty reduction.

The EITI Board of Directors is made up of representatives from countries implementing the standard, nations supporting the EITI, civil society organizations, institutional and industry investors.