Dr Peter Eigen, Chair of the Extractive Industries Transparency Initiative (EITI), will visit Liberia, Sierra Leone and Nigeria this week to recognise and encourage the progress being made towards the EITI standard. Like so many in the region, these countries are characterised by violence, corruption and poverty, as well as an abundance of natural resources. This paradox is often called the resource curse. To help address this paradox, each of the countries has committed itself to implement the EITI,
On Thursday 25 March 2010 the President of Sierra Leone, Dr Ernest Bai Koroma, launched Sierra Leone’s first EITI report that discloses all payments made from mining companies to the government for 2006 and 2007. At the launch of the first Sierra Leone Extractive Industries Transparency Initiative (SLEITI) report, President Koroma said that “the vision for the Sierra Leone EITI is to ensure that the natural resource wealth becomes an engine for sustainable development” and that “the revenues generated ar
BERLIN, 16 APRIL 2010. The Board of the Extractive Industries Transparency Initiative, the international standard for improved transparency in countries’ natural resource sector, met in Berlin 15-16 April. The Board discussed the request of 17 of the 32 countries currently implementing the EITI to extend their deadline for completing EITI Validation. In addition, Sao Tome and Principe had applied to voluntarily suspend their EITI Candidate status.
In recognition of their progress in implementing the EITI, the EITI Board has concluded that Kazakhstan the Democratic Republic of Congo Mali Mauritania Niger Peru are Candidate countries that are “close to compliance”. This was announced following the meeting of the EITI Board in Brussels 13-14 December 2010.
The Government of Sierra Leone has re-launched its EITI process in Freetown on the 20 July 2011. The key stakeholders signed a Memorandum of Understanding to formalise the EITI Multi-stakeholder group and published the 2011-12 EITI work plan.
At the launch EITI Champion and State House Chief of Staff, Dr Kaifala Marah said it was only through partnership that Sierra Leoneans can benefit from the country's natural resources,
Implementers from 11 countries met to share experiences from their EITI.
Latest EITI report reveals that revenues from oil and mining remain low.
Gabon 'delisted'. Sierra Leone, Mauritania and Yemen 'suspended'.
EITI Report shows that revenues are up by almost four times but remain a small part of the economy.
Milestone in its efforts to reform management of oil, gas and mining revenues.