The EITI Board approved Senegal’s application for EITI Candidate status at its meeting in Abidjan on 17 October 2013.
Senegal will now implement the EITI Standard, which will ensure more transparency for the payments to the government from the extractives sector in the country.
National Champion for EITI in Senegal, Professor Ismaïla Madior Fall, commented on the decision.
“Ten years after the launch in 2003 of the mining Code largely aimed at attracting investments, the Government of Senegal is dealing today with the assessment of the contribution of the mining sector to its national economy. The EITI represents therefore for us a relevant tool to measure revenue streams and even beyond this, to generate a general debate on the governance of the extractive industries in Senegal.”
“We are proud to be able to measure our performance in the light of this globally recognised EITI Standard,” the National Champion added.
The decision of the Board on the status of Senegal in full:
The EITI Board admits Senegal as an EITI Candidate country on 17 October 2013. In accordance with the EITI Standard and associated transitional arrangements, Senegal is required to publish its first EITI Report within two years of becoming a Candidate (by 17 October 2015). If the EITI Report is not published by this deadline, Senegal will be suspended. Validation will commence within three years of becoming a Candidate (by 17 October 2016).
As an EITI Candidate country, Senegal has to start disclosing payments form its extractives sector, and meet all the requirements in the EITI Standard within 2.5 years to become EITI Compliant.