Canadian International Development Agency - CIDA



Canadian International Development Agency - CIDA

November 23, 2012 09:00 ET

Minister Fantino Announces UBC-SFU to Partner With Government on New Extractive Institute

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2012) - Today, the Honourable Julian Fantino, Minister of International Cooperation, as part of a keynote address to the Economic Club of Canada, announced that the University of British Columbia (UBC), working in a coalition with Simon Fraser University (SFU), has been selected to operate the new Canadian International Institute for Extractive Industries and Development.

"The new institute will build on Canadian leadership in the management of natural resources in developing countries, which is critically important for sustainable economic growth," said Minister Fantino. "The University of British Columbia, leading the coalition, will now establish and operate a world-class institute that will deliver knowledge on proven regulation and oversight to help resource-rich developing countries create jobs and economic growth."

On October 27, 2011, Prime Minister Stephen Harper announced, as part of the Canada's Corporate Social Responsibility Strategy, the creation of the Canadian International Institute for Extractive Industries and Development. A call for proposals was launched on June 20, 2012, to solicit proposals from Canadian universities to create and operate the institute. Applicants were encouraged to seek support from strategic partners, such as the private sector and non-governmental organizations, to provide cash and in-kind support to ensure the long-term success of the institute.

"This institute will help developing countries reap the benefits of their natural resources, and also benefit Canadian companies in fair, transparent, and foreseeable regulation in the extractive sector," concluded Minister Fantino.

The selection of the University of British Columbia as the operating partner reflects the outcome of a rigorous assessment process, including an independent advisory panel. The panel comprised a former public servant, a university administrator, and a senior executive from the extractive resource sector.

Backgrounder

Minister Fantino announces UBC-SFU to partner with Government on new extractive institute

Today, the Honourable Julian Fantino, Minister of International Cooperation, announced that the University of British Columbia (UBC), working in a coalition with Simon Fraser University (SFU), has been selected to operate the new Canadian International Institute for Extractive Industries and Development.

The University of British Columbia, the leader of the coalition, will establish a world-class institute to deliver knowledge and technical assistance aimed at helping resource-rich developing countries manage their natural resources responsibly and transparently.

On October 27, 2011, Prime Minister Stephen Harper announced, as part of the Canada's Corporate Social Responsibility Strategy, the creation of the Canadian International Institute for Extractive Industries and Development. A call for proposals was launched on June 20, 2012, to solicit proposals from Canadian universities to create and operate the institute. A total of five proposals was received.

The selection of the UBC-SFU coalition as the operating partner reflects the outcome of an independent multi-step assessment process, including an independent external advisory panel.

The panel included a former member of the public service, a former university administrator, and a high-level representative from the extractive resource sector.

The management of natural resources in developing countries is an increasingly important driver of sustainable economic growth, creating jobs and providing governments with revenue to deliver services to their citizens.

In 2008 alone, exports of oil and minerals from Africa, Asia, and Central and South America were worth about $1 trillion. This is more than nine times the value of international development assistance provided to these same regions ($128.6 billion). Current trends suggest that the sector will become even more important as exploration for minerals, oil, and gas continues in developing countries.

For this reason, developing countries are increasingly looking at ways to tap into the enormous potential of the natural resource sector to stimulate sustainable economic growth while managing the impact on the environment and improving the well-being of their citizens.

For more information, on Canada's broader efforts to support responsible and transparent management of natural resources in developing countries, visit the Natural Resources Management page on CIDA's website.

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