Chad recognised as compliant with EITI transparency standard
LONDON, United-Kingdom, October 15, 2014/African Press Organization (APO)/ -- Chad was today accepted as a full member of the EITI.
As 'compliant' with the global EITI transparency standard, citizens of Chad have access to extensive information about how their natural resources are governed. Industry, government and civil society in the country are working together to inform the debate about the management of its oil, gas and mineral resources.
The EITI International Board designated the country 'EITI compliant' at its meeting in Myanmar and congratulated the Government of the Chad for its sustained commitment and leadership in the implementation of the EITI.
Clare Short, Chair of the EITI said:
“I congratulate Chad for having strengthened the government systems so that the people of Chad can better benefit from the country's natural resources. Reaching compliance with the EITI requirements means that Chad is on the path towards open and accountable governance of its natural resources, and we look forward to working together to continue to strengthen governance of this crucial sector of Chad's economy.”
Le Bemadjiel Djerassem, Minister of Hydrocarbon and Energy and Chair of Chad-EITI High National Committee, is glad to receive recognition for Chad's efforts. He said:
“Thanks to the EITI, some major reforms have been engaged when it comes to follow-up of revenue collection and payments from the extractive industries. Implementing the EITI has allowed us to realise that we do not an adequate system for tracking these revenues. Now with the establishment of the unit for revenue tracking, this is accomplished. We can now verify the figures and publish reliable information about oil revenues. Achieving compliance with the EITI requirements is a first step on the long path towards managing natural resources for the benefit of the citizens.”
Scott Miller, General Manager of Esso Chad, said:
“Esso welcomes this milestone decision by the EITI Board. This accomplishment would not have been possible without the process ownership and full support of the national government. Transparency is essential to support economic growth, increased opportunity, and a better standard of living for all citizens. We look forward to continuing our engagement in future reporting years, and to the challenges of sustainment in an evolving industry and regulatory landscape.”
Adama Coulibaly, World Bank Resident Representative in Chad, said:
"The World Bank congratulates Chad on achieving EITI compliance. This comes as a result of the Government's steadfast determination to manage public resources in compliance with international standards of transparency. The World Bank, through funding from the EITI Multi Donor Trust Fund has supported this work in partnership with Government and it has paid off.”