The government is seeking to create a sound foundation for its expanding extractives.
Picture from the left: Marlene Villela de Talbott, Honduras Ambassador to Japan, Dulce Zavala from Honduras' National Anticorruption Council and Roberto Herrera, Honduras' High Representative for Transparency in the Extractive Sector.
The Central American country will now implement the global EITI transparency standard. By implementing the EITI Standard, the country is seeking create a sound foundation and good governance of an expanding natural resources sector.
The international EITI Board approved Honduras' application for EITI Candidate status at its meeting in Sydney on 22 May 2013.
Roberto Herrera, the Honduras’ High Representative for Transparency in the Extractive Sector, said: "We are very grateful to the EITI Board for accepting Honduras as an EITI Candidate country and for acknoledging our commitment to implement the EITI. The government of Honduras believes that transparency and multistakeholder participation are important elements towards developing of our mining and hydrocarbon sectors in a way that will help increase the quality of life for all Hondurans".
Further, Dulce Zavala from Honduras’ National Anticorruption Council, said: " we look forward to enhancing national conditions for transparency and accountability. We expect that EITI Reports would help us to monitor the indutries and to see what citizens are getting from their natural resources.
As an EITI Candidate country, Honduras is required to disclose payments from its extractives sector within 2.5 years, and meet all the requirements in the EITI Standard.
The Board's decision in full:
The EITI Board admits Honduras as an EITI Candidate country on 22 May 2013. In accordance with the EITI Rules, Honduras is required to publish their first EITI Standard within one year and six months of becoming a Candidate (by 22 November 2014) and to submit a final (MSG endorsed) Validation Report to the Board within two years and six months of becoming a Candidate (by 22 November 2015). Failure to meet either of these deadlines will result in delisting.