Honiara, Solomon Islands – Solomon Islands has rejoined the Extractive Industries Transparency Initiative (EITI), marking an important step in the country’s efforts to strengthen transparency, accountability and the governance of its natural resources.

The United Nations Development Programme (UNDP) congratulates the Government and people of Solomon Islands on the milestone, which comes at an important time as the country’s mining sector is expected to play a growing role in economic diversification, public revenues and employment, with gold and nickel projects such as Gold Ridge and Kolosori contributing to the expansion of the sector.

Minister of Finance and Treasury, Hon. Rexon Ramofafia said, “Rejoining the EITI reflects our commitment to ensuring that the development of Solomon Islands’ mineral resources is transparent, accountable and delivers benefits for our people. As investment and production increase, we want citizens to have confidence in how the sector is managed and how revenues are collected and used. The EITI provides an important framework for government, industry and civil society to work together towards that goal.”

Recent work undertaken as part of Solomon Islands’ EITI re-engagement identified both opportunities and challenges as the sector develops, including the need for reliable production and revenue data, stronger oversight and coordination, and continued improvements in systems for managing information.

These issues have direct implications for development. Reliable information can help government institutions strengthen revenue collection, improve public financial management and make better-informed policy decisions. Greater transparency can also support responsible investment and provide communities with a stronger basis for participating in discussions about the management of natural resources.

UNDP Pacific Resident Representative Munkhtuya Altangerel said the country’s return to EITI was an important opportunity to connect transparency with stronger institutions and better development outcomes.

“Solomon Islands’ return to the EITI comes at a defining moment for the country’s development. As the mining sector grows, the quality of the institutions that govern natural resources will be just as important as the resources themselves”, said Ms Altangerel.

“The EITI provides Solomon Islands with an important platform to strengthen public institutions, improve access to reliable information, support informed decision-making and ensure that the benefits of natural resource development can contribute to inclusive and sustainable development.”

A central feature of EITI is its multi-stakeholder approach, bringing government, industry and civil society together around shared information and dialogue.

For Solomon Islands, this provides an important platform to strengthen participation in decisions concerning a sector that is closely connected to land, communities and livelihoods.

UNDP-supported work has also brought together government institutions, civil society, companies, women leaders, youth and community representatives to examine governance risks, strengthen participation and identify areas for improved coordination and information sharing.

Solomon Islands’ return to EITI has been supported by the Government of the United Kingdom through funding to UNDP for technical assistance to the Government of Solomon Islands.

This support has helped national stakeholders strengthen institutional capacity, undertake technical and policy analysis, facilitate multi-stakeholder engagement and prepare for renewed EITI implementation.

British High Commissioner to Solomon Islands, Paul Turner said, “EITI can support Solomon Islands in strengthening its revenue collection and exports. It is a win – win – win: for Government; local communities; and for mining companies who will have greater export markets.”

The achievement reflects the leadership of the Government of Solomon Islands, the Solomon Islands EITI National Secretariat, the National Stakeholders Group, civil society, industry and other national institutions, with technical engagement from the EITI International Secretariat and support from development partners.

As Solomon Islands moves into the next phase of implementation, the focus will be on translating disclosure into stronger institutions, informed public dialogue and better development outcomes.

UNDP will continue to support Solomon Islands and national partners in advancing transparent, accountable and inclusive governance of the country’s natural resources.

For more information please contact:

Florica Dragomir, UNDP Solomon Islands, EITI Project Manager, florica.dragomir@undp.org