November 2004, International Finance Corporation (IFC)
In many developing and transition countries, revenues from oil, gas, and mining production through taxes, royalties, and other receipts are an important engine for economic growth and social development.
The World Bank Group believes that, if used wisely, abundant resources can provide a foundation for sustainable economic growth. We are committed to increasing transparency and accountability related to revenues from the extractive industries and have pioneered transparency frameworks in several high-profile projects in recent years.
