Equatorial Guinea to Join Extractive Industries Transparency Initiative

MALABO, Equatorial Guinea, Nov. 21, 2014 /PRNewswire-USNewswire/ -- The government of Equatorial Guinea will join the Extractive Industries Transparency Initiative (EITI) as part of its efforts to move the country forward in full compliance with international standards.

The EITI is a global coalition of governments, companies and civil society working together to improve openness and accountable management of revenues from natural resources.

President Obiang and his government have been working to qualify as a candidate for compliance with the rules of the EITI, while unilaterally establishing policies to exceed EITI auditing standards and do more than is necessary to ensure that transparency and accountability are as mandatory for the Government as they are for civil society.

Equatorial Guinea has made significant progress in the areas of transparency, accountability, social services, health and education and is committed to continue these reforms.

About Equatorial Guinea

The Republic of Equatorial Guinea (República de Guinea Ecuatorial) is the only Spanish-speaking country in Africa, and one of the smallest nations on the continent. In the late-1990s, American companies helped discover the country's oil and natural gas resources, which only within the last five years began contributing to the global energy supply. Equatorial Guinea is now working to serve as a pillar of stability and security in its region of West Central Africa. The country hosted the 2011 Summit of the African Union. For more information, visit http://www.guineaecuatorialpress.com.

SOURCE Republic of Equatorial Guinea

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