Egypt, World Bank Launch Charter to Lift Mining’s GDP Share to 6%
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…
