We don't know how much money the Democratic Republic of the Congo government gets from the exploitation of our oil, gas, minerals and timber. That must change
New EU legislation introducing mandatory transparency for multinational companies could do a lot to help billions living in poverty in resource-rich countries. It could contribute to turning their natural resource wealth from a curse to a blessing if approved in its current form, but it would fail to make a difference if it is watered down.
My country, the Democratic Republic of the Congo (DRC), is rich in oil, gas, minerals and timber, but most of us, especially my brothers and sisters living in poverty, do not have a clue about our natural wealth. We don't know how much money our government gets from companies for the right to exploit our natural resources. We have no clue how much money ends up in the pockets of government officials.
We do know one thing, however: money made by exploiting our natural resources ends up abroad and in the pockets of unaccountable political elites. The new European legislation could help to change this and that is why it is so important to us.[view whole blog post ]