Georgia

Washington, D.C., – The World Bank Group announced today its formal endorsement of the Extractive Industries Transparency Initiative and pledged to work with several developing nations, as well as companies, on ways to publish revenues accruing from oil, gas, and mining sectors.

The Extractive Industries Transparency Initiative was launched in September 2002 by British prime minister Tony Blair at the World Summit on Sustainable Development in Johannesburg, and is being championed by the U.K.

This report analyses the research carried out in the framework of Georgia Revenue Watch Program, funded by the Open Society – Georgia Foundation.

The report provides an overview of the extractive industries and energy transit in the country, and analyses the degree of transparency of information regarding the operations of these industries and the economic benefits accrued for the state.