Extractive Industry Transparency Initiatives |19 August 2016

Seychelles completes and submits its annual progress report

The Seychelles Extractive Industry Transparency Initiative (SEITI) has submitted its annual progress report for 2015 to the EITI secretariat.

The report highlights the efforts that Seychelles has undertaken during the year 2015 to meet and/or maintain compliance with the EITI requirements.

It also highlights activities undertaken by the MSG and challenges faced throughout the year.

The annual progress report gives the status quo of the implementation of EITI in Seychelles and is part of the required procedures to ensure compliance to the EITI standards.

The main focus for 2015 was to ensure that all activities undertaken in 2015 were reflected in the annual progress report.  

One of the first tasks of the MSG was the revision and implementation of a work plan with activities ranging from the hiring of an Independent Administrator to draft the first EITI Report, review of necessary and relevant legislative framework, enabling the implementation of EITI as well as capacity-building programmes and exchanges with other EITI countries.

For the implementation of the activities, World Bank provided financial assistance for a sum of US $290,000 from the Multi-Donor Trust Fund and R11,100 from the Seychelles government.

Significant progress was made in the implementation of the activities planned for 2015. Even with the limited amount of time, some activities such as the assessment of the necessary legislative framework as well as setting up of the Seychelles EITI secretariat is well under way. Seychelles is an EITI Candidate Country and such reports are part of the set of recommendations for Seychelles to be accepted as a Compliant Country.