Egypt, World Bank discuss mining sector financing

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi discussed with Namrata Thapar, World Bank Group Global Director for Metals and Minerals, ways to enhance cooperation in developing Egypt’s mining sector, providing financing mechanisms for mining projects, and building human and technical capacities.

The talks were held on the sidelines of Egypt Mining Forum 2026, taking place on September 28 and 29, where Thapar is participating as a keynote speaker representing the World Bank Group.

Badawi said Egypt aims to transform its mining sector and increase its contribution to GDP to around 6 per cent, from less than 1 per cent currently, by developing the sector’s operating framework, creating a more attractive investment environment, and strengthening partnerships with the private sector and international financial institutions.

Thapar affirmed the World Bank Group’s interest in providing initial financing to support Egypt’s mining sector, noting that capacity building could serve as a practical starting point for cooperation. She also expressed interest in supporting private-sector projects, particularly in phosphate and phosphate-based industries, and connecting junior mining companies with suitable investors and partners to improve access to financing and expansion opportunities.

The two sides also stressed the importance of treating mining as an integrated value chain covering exploration, geological resources, infrastructure, financing, mining, processing, manufacturing, and exports to maximise the added value of mineral resources rather than focusing solely on producing and exporting raw materials.