As part of an initiative covering eight countries, the World Bank (WB) and the Ministry of Petroleum and Mineral Resources (MoPMR) have launched a national charter to develop the country’s mining sector, according to a MoPMR statement.

The Egyptian charter aims to raise mining’s contribution to gross domestic product (GDP) from 1% to 6% through a comprehensive development plan covering legislative and fiscal reforms, improved geological data to attract investment, digital systems, and mineral processing centres.

The plan builds on reforms initiated over the past two years. The WB and the European Bank for Reconstruction and Development (EBRD) will also cooperate to strengthen governance, build sector capacity, and attract investment.

Karim Badawi, Minister of Petroleum and Mineral Resources, said Egypt is pursuing comprehensive mining sector development and working to establish an investment-friendly environment to build a sustainable, competitive industry and strengthen the country’s position on regional and international investment maps.

Badawi highlighted the importance of expanding partnerships with the World Bank and international financial institutions to secure financing, attract investment, and obtain technical support for the sector’s development.

Namrata Thapar, the WB’s Global Director for Metals and Mining, emphasized the importance of the partnership in supporting Egypt’s efforts to develop its mining sector.

Speaking during her participation in the recent Egypt Mining Forum (EMF) in the New Administrative Capital, Thapar praised the country’s reform efforts and clear national vision for transforming the sector. She also highlighted Egypt’s mineral potential, infrastructure, and investment climate as key factors supporting investment attraction and accelerating development.

Thapar added that the progress she observed reflects Egypt’s commitment to maximizing the value of its mineral resources, creating further opportunities for cooperation with the World Bank Group.

Globally, the WB plans to increase its support for the mining sector fivefold to $19 billion over fiscal years 2026-2030, through financing and efforts to mobilize private sector investment.

Egypt is pursuing reforms to increase the mining sector’s contribution to GDP, supported by changes to the regulatory framework, investment incentives, and a greater focus on mineral processing and value addition.