Yemisi Izuora
The World Bank is expanding support to sustain mining industry activities in developing economies and in particular Africa, with greater investment opportunities.
The global race for minerals and metals is accelerating as urbanization, agriculture, digitalization, and energy needs intensify worldwide, demand for these minerals could double by 2040.
For resource-rich developing countries, this is a major opportunity not only to supply global markets, but also to create jobs, build industries, and strengthen economic resilience at home.
According to World Bank, realizing the opportunity requires getting three fundamentals right, which include strong policies and governance, foundational infrastructure, and private sector investment.
The World Bank Group’s approach to metals and minerals brings these elements together so that resource wealth delivers broad-based, lasting benefits.
The Bank has established dedicated approach in helping countries turn mineral wealth into jobs and growth.
Under the approach, the Bank is focusing in large mining, where projects can create far more than exports.
When designed well, they can build skills, strengthen local suppliers and support livelihoods across the wider economy.
The Bank believes that when countries invest in processing, manufacturing an and local supply chains, they create more jobs and generate more value for local communities.
Many countries already have a vision for their minerals sector and are advancing it with targeted support from the World Bank Group. Country compacts agreements that help align policy reforms, infrastructure, and investment around country priorities are an important tool for this work.
At the World Bank Group Spring Meetings in April 2026, it launched four initial country metals and minerals compacts with Bolivia, Malawi, Mauritania, and Zambia. More compacts and partnerships will follow later this year.
It plans to quintuple the support to metals and minerals in the next five years and progress is being accelerated in Africa and investments along the Lobito Corridor are helping move minerals to market while also supporting agriculture, trade, and industry. For communities along these routes, this means better access to markets, services, and new sources of income.
It is also expanding access to finance for smaller projects. Its co-investment platform with Appian, backed by $100 million from the World Bank Group, addresses a critical financing gap: access to risk capital for smaller but job-rich projects. We aim to mobilize up to $1 billion by 2027 for small and medium-sized mining projects.
Through the RISE partnership it is supporting nearly 20 countries in identifying investment opportunities across mineral value chains, including opportunities to expand from extraction into processing and manufacturing.
Multilateral development banks are strengthening coordination to partner with countries as they build value across the full value chain, from mining to manufacturing.
A recent joint statement outlines how partners can pursue more coordinated and scalable results, including through market support, early-stage financing, and risk-sharing tools.
Many donor countries, including G7 members, through its EGPS facility, which promotes better metal and minerals development practices that protect the environment and enable local communities to capture value.
Metals and minerals can power jobs, industries, and long-term growth. With the right policies, investments, and strong partnerships, countries can turn this opportunity into lasting benefits for people and communities.