Yesterday, the Democratic Republic of Congo (DRC) was recognized as a full member of the Extractive Industries Transparency Initiative (EITI).
The EITI International Board designated the country ‘EITI compliant’ at its meeting in Mexico City and congratulated the Government of the DRC for its sustained commitment and leadership in the implementation of the EITI.
DRC’s candidate status had been temporarily suspended on 18 April 2013, following the publication of the 2010 EITI Report, which was found not to meet the EITI requirements. The company has since addressed the issues that led to its suspension.
As the country is now ‘compliant’ with the global EITI transparency standard citizens have access to extensive information about how their natural resources are governed.
Clare Short, Chair of the EITI Board, commented: “ I congratulate the DRC for becoming a full member of the EITI family. Despite all the challenges facing the country, the Congolese people have been working together to bring transparency and accountability to the management of their natural resources”.
Jonas Moberg, Head of EITI International Secretariat, said: “There has been an extraordinary level of engagement as part of the EITI process in the DRC. The EITI cannot solve all the problems in this big country, but it is clearly bringing transparency and accountability to a complex sector that has been badly managed in the past.
“EITI compliance does not mean that a country’s natural resources are managed perfectly, but it does mean that the country has a basic and functioning process to ensure that a well informed debate is taking place. Compliances will ensure that the DRC’s vital natural resource sector contributes to the countries long term development.
“We look forward to working with our partners in the DRC to continue implementing needed reforms. Sustained political commitment is needed to continue in the right direction”.
Guinea was also accepted as ‘EITI compliant’ by the Board in Mexico City. As an EITI implementing country, Guinea regularly discloses the government’s revenues from natural resources.
Cheick Kante, Country Manager, Guinea office of the World Bank, commented: “The World Bank congratulates Guinea on achieving EITI Compliant status after many years of hard work facilitates by the Multi-Donor Trust Fund grant to meet rigorous transparency standards that now place their industry on par with international standards”.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03072014/eiti_membership_844/