At its board meeting held earlier this week, the Extractive Industries Transparency Initiative (EITI) found that Liberia and Mali had made meaningful progress in implementing the EITI Standard. The EITI has also approved Suriname’s candidature application.
The EITI Board had particularly positive words for Liberia, whom it recognised as a pioneer in implementing and setting out the next steps for EITI standard. As Liberia underwent its first EITI validation, the board recognised the meaningful progress achieved and identified 16 corrective actions to help Liberia ahead of the next validation in 18 months.
EITI chair Frederick Reinfeldt said: “Political will led Liberia to pioneer a number of the requirements in the current EITI Standard, and political will is what will be needed to ensure that Liberia remains at the forefront of implementation. The Board’s corrective actions should help Liberian stakeholders direct their efforts in order to continue implementing the Standard in a way that leads to better governance of the extractive sector”.
More on EITI Liberia announcement here.
The EITI Board also concluded that Mali had made meaningful progress in implementing the EITI Standard. The full EITI’s independent review of Mali's implementation can be found here.
At the board meeting, EITI welcomed Suriname as the 52th members of initiative. Suriname has now 18 months to publish its first EITI report and will have to publish an annual activity report for 2017 by 1 July 2018.
“We hope that the EITI will help Suriname to ensure that its natural resources are used for the development of the country,” Reinfeldt said.
More on EITI Suriname announcement here.