The commitment was made at the end of a two-day capacity building Retreat held for members of the LEITI Multi-stakeholders Group and other LEITI Stakeholders, including officers and representatives of extractive companies, civil society, the UNDP, UNMIL, DFID, World Bank, and other international organizations.
During the Retreat, the LEITI Stakeholders discussed major unresolved discrepancies of payments and revenues data contained in the LEITI first Report. Some of the unresolved discrepancies involved the amount of US$160,000.00 that Amlib (which recently signed a Mineral Development Agreement with the Government) reported paid to the Ministry of Finance, but which the Ministry of Finance said it never received. Also discussed were several other major differences in figures of payments and receipts, including what ArcelorMittal reported as paid to the Government and what the Government reported as received from ArcelorMital.
Given the significance of the discrepancies, and as a necessary measure to further the credibility of the LEITI process, the Government of Liberia along with other LEITI stakeholders at the Retreat agreed that all discrepancies contained in the LEITI First Report be expeditiously resolved within one month as of the Retreat.
Meanwhile, the LEITI Governing Board has approved a summary of the first LEITI Report, and authorized the LEITI Secretariat to implement wide dissemination of the summary LEITI Report in conjunction with other appropriate public outreach activities. The LEITI stakeholders said that it was important that Liberians get adequately informed of the aims and immense benefits of the LEITI initiative.
Meanwhile, the over sixty LEITI Stakeholders attending the ThinkersVillage Retreat called on the Liberia Legislature to use their good offices to pass the Draft LEITI Act before them, saying that the benefits of transparency and good governance offered by the LEITI are very clear and indisputable.
The Liberia Extractive Industries Transparency Initiative (LEITI) is part of a global Initiative called Extractive Industries Transparency Initiative (EITI) , which is implemented in 26 countries in Africa, Asia, and Europe. The objective of the EITI and the LEITI is the same: to promote transparency over mineral revenues by requiring the regular disclosure, verification and publication of (1) all material payments made to a country’s government by extractive companies; and (2) the revenues the Government received from the extractive Companies. The schedule of both payments and revenues data are regularly published in an EITI Report. Liberia First EITI Report was published in February this year, and may be found at www.leiti.org or collected from the offices of the LEITI on the 4th Floor of the Ministry of Finance.