The Incentivizing study report titled: Incentivizing EITI Compliant Countries: the Case of Liberia was commissioned by the LEITI and completed, with funding support from one of our development partners, the GIZ.
Liberia volunteered to undertake this study when the International EITI Board established a Working Group, in 2010, on Incentivizing Compliant Countries – to present options on how compliant countries can be incentivized to continue and improve EITI implementation.
The 3rd EITI Report and the Incentivizing Study Report will be formally launched and released by the LEITI Multi-Stakeholders Steering Group (MSG) on Friday December 16, 2011 at 11:00 A.M. at the P.A’s Rib House in Lakpazee, Sinkor.
The Vice President of the Republic of Liberia, H.E. Joseph Nyumah Boakai will serve as key Launcher of these two reports. This launching program will be attended by members of the diplomatic corps, officials of the Liberian government, the chairperson and members of the Multi-Stakeholders’ Steering Group(MSG) of the Liberia Extractive Industries Transparency Initiative, the press and other invited guests.
The publication will be followed by massive dissemination via print and electronic media, including the internet and by way of an extensive public outreach throughout the fifteen counties of Liberia.
The Government of Liberia joined the Extractive Industries Transparency Initiative (EITI) process in September 2007, and has published its first and second reports. The first and second EITI Reports of Liberia contained payments data supplied by thirty (30) and sixty-four (64) companies respectively, and revenues data supplied by four (4) and five (5) agencies of Government, respectively. Liberia undertook validation (EITI quality assurance mechanism) and became the first country in Africa and the second in the World to become EITI compliant in October 2009.
The LEITI is an autonomous agency of Government established by an Act of the Legislature as a partnership involving the Government, the Private Sector, and the Civil Society of Liberia. LEITI is supported by the Government of Liberia and Liberia’s Development partners.
The LEITI seeks to ensure transparency over payments to, and revenues received by, the Government of Liberia in connection with the operations of all oil, mining, logging and Agriculture companies operating in Liberia. The work of the LEITI consists of regular disclosure, audit/reconciliation, and publication of all material payments made by oil, mining, logging and agriculture companies (“Companies”) to the Government, and all material revenues received by the Government from the above-mentioned companies. A critical component of the LEITI work program is the comprehensive and reliable reconciliation and/or audit of the payment and revenue data provided by both the Companies and the Government. The LEITI process also calls for massive and public dissemination of the EITI reports.