MONROVIA-Liberia has come out in high colors following an impressive report released by the Extractive Industry and Transparency Initiative (EITI).
According to the report, Liberia has achieved a moderate overall score of 75 points in implementing the 2019 EMT Standard.
“On June 17, 2022, the EITI Board agreed that Liberia had achieved a moderate overall score of 75 points in implementing the 2019 EMT Standard,”
Madam Helen Clark, EITI Board Chair said in a communication addressed to President George Manneh Weah.
The release was issued in a communication dated June 17, 2022. In it, Madam Clark said she was pleased to inform the President of Liberia that the results of Liberia’s Validation under the revised EITI Standard was encouraging.
According to her, Validation provides an opportunity to assess performance and good practice in the extractive sector and to identify opportunities to strengthen the impact of the EITI across all its 56 implementing countries.
That impressive result reflects the high-level commitment and dedication of President George M. Weah’s government, key office holders, staff, and Multi-stakeholder Group members.
With this commendation, the Minister of Finance, Mr. Samuel Tweah said it was the combined work of all stakeholders in this government that made it happened. He said, it is the intent to do more than this.
The letter from the EITI cited the government’s commitment to harness the EITI as a platform to advance reforms, inform public debate, and improve access to information on the mining, oil and gas, forestry, and agriculture sectors.
“The EITI Board commends your government for achieving a high score of 81.5 points on outcomes and impact,” said Madam Clark.
“A moderate score of 75 points was achieved on stakeholder engagement, but a fairly low score of 69.5 points on transparency,” she added.
It further said, that “It was clear from the Validation that steps have been taken to rebuild the EITI process following resolution of governance issues within the National Secretariat in 2018/19.”
Moreover, efforts to use the EITI as a platform to bring about reform and debate in the extractive sector have subsequently been resumed, according to the EITI Board.
The communication suggested that there are opportunities to build further on these efforts by improving transparency around the award of extractive rights, the beneficial ownership of companies, contracts, and the operations of the national or company while ensuring that EITI objectives are aligned with national priorities for the extractive industries.
“The Board has determined that Liberia will have until the next Validation commencing on April 1, 2024 to carry out fourteen corrective actions and to consider the strategic recommendations from this Validation,” the communication said.
With this, the communication said that the International EITI Secretariat stands ready to support the government and the Muti – stakeholder Group in President Weah’s efforts to take forward implementation of the EITI Standard.
“We hope that the recommendations stemming from the Validation are helpful in directing these efforts.”