One million Euros (nearly 656 million CFA francs) to launch the “FSPI Governance of Extractive Industries” Project
23 Mar, 2023
Jean-Baptiste Ondaye, Congolese Minister of Economy and Finance, representing the Congolese government, and François Barateau, Ambassador of France to Congo, representing the French government, signed, Thursday, March 23, 2023 in Brazzaville, the Memorandum of Understanding for the launch of the “Solidarity Fund for Innovative Projects (FSPI) Governance of Extractive Industries” Project.
This project, funded to the tune of one million Euros (nearly 656 million CFA francs), is supported by France, through its Ministry for Europe and Foreign Affairs. Its implementation is entrusted to the operator Expertise France, a subsidiary of the French Development Agency (AFD). Its completion is scheduled for two years (April 2022-April 2024).
This first FSPI project will strengthen the governance of extractive industries in the Republic of Congo. In other words, it will assist this country in its response to the challenges encountered by the implementation of this Standard with local beneficiaries such as the National Committee of the Initiative for Transparency in the Extractive Industries (CN-ITIE ). This Committee will be able to capitalize on and relay good practices to the local structures involved in the country's validation process.
The opportunity was perfect for the French diplomat to “congratulate the Republic of Congo, which recently concluded a new exercise to assess the compliance of the implementation of the EITI Standard on its national territory. At the beginning of March 2023, he recalled, the EITI Board of Directors, on which France sits, thus validated the progress made by Congo in improving its EITI process since its last evaluation.
The Ambassador added that "this FSPI project, which we have agreed to carry out together, offers the Republic of Congo, and this is the main thing, the opportunity to strengthen its attractiveness vis-à-vis foreign investors, thus contributing to the achievement of the objectives of its National Development Plan (PND) 2022-2024, and to the collective work of diversification of its Economy, which it so badly needs to ensure social, equitable and sustainable development for its population. .
For his part, the representative of the Congolese government, Jean-Baptiste Ondaye, declared “that beyond its economic scope, the signing of this Memorandum of Understanding is an act which also has a political and moral dimension. Political dimension, insofar as it is a question, here, for the French and Congolese governments, of materializing their common will to always work for a cooperation whose one of the pillars remains good governance, guarantee of a harmonious development . Moral dimension, since it is a question here of giving us the means to strengthen the fight against anti-values”.
Jean-Baptiste Ondaye reiterated the commitment of the Government of the Republic of Congo to make the EITI Standard a decisive reference in the governance of extractive industries, in accordance with the guidelines of the President of the Republic of Congo, His Excellency Mr. Denis Sassou-N 'Guesso.
It should be noted that France has supported the EITI since 2005, when the Congo announced, in 2004, its intention to join the Initiative.
The Communication Unit of the Ministry of Economy and Finance