World Bank increases support to ensure minerals sector has positive impact
Eight countries will receive support to identify priorities, commitments and measurable targets in the sector.
The World Bank Group intends to increase its metals and minerals support fivefold to USD$19bln between 2026 and 2030.
The group will provide public financing and policy advice to Argentina, Bolivia, Egypt, India, Kazakhstan, Malawi, Mauritania and Zambia – with the aim to create jobs and strengthen local economies by developing responsible metals and minerals development.
The group’s International Finance Corporation will invest and mobilise private capital, and the Multilateral Investment Guarantee Agency (a member of the World Bank Group) will provide guarantees to manage risk.
The plans include modernising mineral licensing and geological data, strengthening environmental and social oversight, expanding energy and transport infrastructure, and developing local workers and suppliers.
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