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Promoting Effective Management of Natural Resources in Liberia

Issue

“Liberia’s natural resources played a central role in the civil war.... To succeed in reconstruction, Liberia will need to convert its vast natural resource wealth into sustainable economic and human development.”

— George Soros, Chairman, Open Society Institute

“Two-thirds of the world’s poorest people live in countries rich in natural resources.... But in many countries, there is an inverse relationship between this public resource and public welfare.”

— Revenue Watch Institute

Strategy

Create more equitable terms in natural resource contracts through contract review and concession negotiation

— Revenue Watch Institute

Case Study

Revenue Watch Institute

A policy institute and funding organization that promotes the responsible management of oil, gas, and mineral resources for the public good
Promote best practices in extractives revenue management in areas such as contracting, fiscal regimes for mining, and oil fund laws
Received more than $14 million in funding from Open Society Institute, the William and Flora Hewlett Foundation, and the Gates Foundation

Results

Helped Liberia successfully renegotiate its contracts in 2006 with the Firestone rubber company and the ArcelorMittal steel company
Funded and prepared a comprehensive report on the importance of the contract process in post-conflict economic recovery and development

Research Sources

Revenue Watch Institute

Getting a Better Deal from the Extractive Sector: Concession Negotiations in Liberia, 2006-2008
2/26/2009

OSI/Soros Foundations Network

The William and Flora Hewlett Foundation

Bill and Melinda Gates Foundation