WB SUPPORTS EITI WORKSHOP IN YEMEN

SANA'A, April 9 (Saba)- A two day Workshop on the Extractive
Industries Transparency Initiative (EITI) was held in Sana'a with
the participation of 45 representatives from relevant CSOs, the
government and the private sector.

The main objective of the workshop, organized jointly by the
Ministry of Oil and Minerals and the World Bank, was to build on the
results of the two earlier workshops held with civil society on
October 19-20, 2009 and February 15, 2010, and expanding the scope
of the discussion to a wider audience, while continuing to focus on
CSO involvement.

Representatives from two countries known for their successes in EITI
implementation, Mauritania and Kazakhstan, participated in the
workshop to share their experiences with the Yemeni EITI team.

At the opening session, Mohammed Saleh chairman of the Yemeni EITI
Council praised the World Bank for supporting the organization of
the workshop and sharing international experiences on EITI with
Yemeni colleagues.

"EITI is unique in terms of bringing together representatives from
three different groups, private sector, civil society and the
government, to work on extractive industry revenue transparency -
supporting improved governance in resource-rich countries through
the verification and full publication of company payments and
government revenues from oil, gas, and mining", Benson Ateng, World
Bank Country Manager said in his opening remarks.

"Oil plays an important role in the country's economy, representing
about one third of GDP, almost three quarters of Government revenues
and 70 percent of exports", he added.

Yemen's oil reserves are rapidly depleting and based on current
exploitation rates, crude oil reserves are expected to be exhausted
in the next 10-12 years.

In light of the non-renewable nature of this resource and its
strategic role in the economy, good governance and transparency of
the petroleum sector is particularly important.

Yemen adopted EITI principles and was accepted as an EITI candidate
in September 2007.

The Yemeni authorities realizing the benefits that the initiative
brings, namely, an improved investment climate, a signal to
international investors that the government has a clear commitment
to transparency and good governance and strengthened accountability
that helps promote greater economic and political stability.

The World Bank has supported the EITI process in Yemen through
technical assistance to the Ministry of Oil and Minerals and a
multi-donor trust fund, since February 2008.

The fund, in the amount of US$350,000, supports technical
assistance, training and capacity building efforts and an EITI
reconciliation audit.