Egypt, World Bank launch partnership to develop mining sector

Egypt’s Ministry of Petroleum and Mineral Resources and the World Bank Group have launched a partnership and national charter to develop the country’s mining sector as part of an initiative covering eight countries.

Petroleum and Mineral Resources Minister Karim Badawi said Egypt aims to develop the mining sector, create an attractive investment climate, build a sustainable and competitive industry, and strengthen its position as a regional and international investment destination.

He highlighted the importance of cooperation with the World Bank and international financial institutions to secure financing, attract investment, and provide technical assistance.

Namrata Thapar, Global Director for Metals and Minerals at the World Bank Group, praised Egypt’s reforms and national vision for transforming the sector during the Egypt Mining Forum. She also highlighted the country’s mining potential, infrastructure, and supportive investment climate as factors that could attract investment and accelerate development.

Globally, the World Bank Group plans to increase its support for the mining sector fivefold to $19 billion over fiscal years 2026–2030 through financing and the mobilisation of private-sector investment.