As we continue our drive towards energy independence, there will be no silver bullet. EITI implementation in Ukraine, supported by the World Bank and international donors, will be a pivotal piece in this puzzle and an important step in transforming the Ukrainian energy sector, bringing reliable, affordable energy to all citizens.
Part of the solution involves beneficial ownership transparency – publishing the names of the actual, living, breathing people who own, benefit from, or control assets. Over the last few months, developments in the Extractive Industries Transparency Initiative (EITI) and also beyond the oil, gas and mining sectors have significantly increased the potential for such disclosures.
President of DiXi Group (Ukraine) shares her thoughts on what EITI has achieved in her country.
Do you focus all on crisis and war, or do you acknowledge that unless you give priority also to longer term reforms, the crisis will never end? Fortunately Richard and I met many Ukrainians during the last couple of days who in their nation-building efforts are taking the long view.
The actual implementation of the EITI principles should become an important signal to investors regarding Ukraine’s policy towards implementation of the European standards and stabilization of the economic situation. (in Russian)