Arab Finance: The Ministry of Petroleum and Mineral Resources and the World Bank Group launched a national charter to develop Egypt’s mining sector as part of an initiative covering eight countries, according to a statement.

The national charter aims to increase the mining sector’s contribution to gross domestic product (GDP) to 6%.

For his part, Minister of Petroleum  Karim Badawi said Egypt is pursuing comprehensive mining sector development and working to create an attractive investment climate to position the country as a regional and international mining investment destination.

Badawi also highlighted the importance of reinforcing partnerships with the World Bank and global financial institutions to secure financing, attract investment, and provide technical assistance.

Meanwhile, Namrata Thapar, Global Director for Metals and Minerals at the World Bank Group, praised the reforms undertaken by the Egyptian government and its national vision for transforming the sector.

Thapar also identified the country’s mining potential, infrastructure, and supportive investment climate as key factors in attracting investment and accelerating growth.

She previously outlined the group’s plans to provide initial financing to support Egypt’s mining sector, focusing on encouraging private-sector projects, particularly in phosphate and related industries.

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