Cooperation agreements were finalized with the central banks of countries with investments in the domestic banking sector; In 2011, the prudential banking supervision by the Central Bank was strengthened, particularly based on support from the "Access to Finance Challenge" fund; and The volume of international reserves was increased. 129. On the fiscal side, important measures were also taken, namely, Strengthening allocation to priority areas for fighting poverty; Implementing the policy of resource decentralization; Intensification of investments in infrastructures; Rationalization of expenditures; Promotion of investment based on financing from Eastern countries (China, India, Brazil) Provision of subsidies for fuel, wheat and some imported basic products with a view to mitigating the increased cost of living of the population; Increasing the value of the subsidy from the National Institute of Social Action (INAS); and Launching the Strategic Plan to Reduce Urban Poverty (PERPU). B. Fiscal Policy The APR Panel recommended, as part of Fiscal Policy, the need to accelerate the process of accession to the International Extractive Industries Transparency Initiative (EITI), which aims to ensure that information on costs and revenues provided by megaprojects is available for public scrutiny and verification (i); that the tax and regulatory regime for megaprojects be reviewed in order to encourage and facilitate investment, promote exploration activities and remove unnecessary barriers and excessive and undue regulatory burdens (ii) that economic and industrial strategies be consolidated and made more effective in order to increase focus (iii). 130.Despite being at an early stage, it appears that extractive industry has potential to contribute to revenue and poverty reduction in the country. In order to promote transparency regarding payments made by extractive industries to the Government and the proceeds received by the Government as revenue that comes from exploration of exhaustible natural resources, Mozambique joined a global program launched in 2002, called Extractive Industries Transparency Initiative (EITI). It is through this initiative that it will be possible to increase public understanding of the contribution of the sector to economic development, and the use of resources collected by the Government in the form of taxes. 131.In relation to Mozambique’s adherence the following steps can be highlighted: In 2008 Mozambique joined the EITI which constitutes one of the positive steps to ensure greater transparency and accountability in the extractive sector, through the full and systematic publication of company payments and revenues collected from oil and gas; In 2009 a Steering Committee was created, which members are drawn from representatives of Government, Civil Society and the Private Sector. The committee's task 53