Karim Badawi, Minister of Petroleum and Mineral Resources, met with Almud Weitz, Regional Practice Director, Infrastructure, Middle East and North Africa at The World Bank Group, to discuss enhancing cooperation in various petroleum and mining projects.

The Minister affirmed that the ministry is working to enhance both sectors’ attractiveness to investors, given the World Bank’s growing interest in supporting and financing strategic energy and mining projects in Egypt and the region.

He highlighted Egypt’s interest in collaborating with the bank on key areas, especially setting incentives to attract emerging mining companies to invest in Egypt. This initiative builds on the recent development of the mining system that has already brought major global companies to Egypt. Other strategic projects for cooperation include the natural gas connection project for households and efforts related to energy efficiency.

Weitz confirmed the bank’s willingness to participate in Egypt’s energy strategy to create the country’s optimal energy mix. She also expressed the bank’s interest in helping with the household natural gas connection project, emission reduction efforts, and energy efficiency.

Furthermore, she added that the bank is currently assembling an international team to study the feasibility of developing, financing, and supporting mining projects in various countries, including Egypt.

The World Bank Group’s engagement with the sector is part of a long-standing strategic partnership. The bank previously helped finance the pivotal natural gas connection project for households and continues to support Egypt’s energy security and green transition goals. This enduring relationship is formalized under the World Bank’s current Country Partnership Framework (CPF) for Egypt, which guides the institution’s strategic investments in the country.