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Statement from the EITI Board Chair on the situation in Guinea

As Chair of the Board of the Extractive Industries Transparency Initiative, I join regional and international leaders in condemning the military coup of 5th September in Guinea.

This military assumption of power in Guinea follows on similar developments elsewhere in the region. It has the potential to destabilise the region further and undermine progress in democratic and accountable governance there.

Along with other governments in the region, the Government of Guinea has committed to implementation of the EITI Standard as a means of improving the governance of the country’s extractive resources. Guinea’s natural resource endowment, if well governed, can make a significant contribution to human development.

The recent events may impact on EITI implementation. Guinea has been increasing transparency around the terms of extractive contracts and making improvements to its regulatory framework. Assessment of progress through Validation of the EITI Standard was due to begin in Guinea on country 1 October. The EITI is dependent on government commitment and on civil society and company engagement to be effective.

These enabling factors are currently at risk. At the EITI, we urge all stakeholders to exercise restraint in the current circumstances. We also urge the restoration of civilian rule supported by inclusive governance and the safeguarding of civic space.