MINING SCTR

closed

Closed

The main objectives of the proposed project are to: (a) support the Government's program to deregulate the mining sector and stimulate private domestic and foreign investment through the establishment of an appropriate policy and institutional framework; (b) build broader financial support to the mining industry; and (c) help finance the surge in demand for investment funding that is expected to result from the improved policy and institutional setting for mining operations. To accomplish its objectives, in addition to providing financing for Small and Medium Scale Mining Enterprises (SMMs), the project will support the following policy changes and institutional reforms in the mining sector: (i) liberalizing private sector access to land with mineral potential and releasing state-held mining reserves; (ii) reducing barriers to foreign investment in mining enterprises; (iii) implementing a mineral rights policy that is conducive to an improved allocation of resources; (iv) reforming the system of mining concessions; (v) phasing out state ownership of enterprises in the sector; (vi) modernizing the government agencies providing support to small and medium scale mining enterprises; (vii) establishing environmental standards for the mining sector; and (viii) phasing out direct Government financing of mining activities.

FY17 - Energy and Extractives

World Bank Group

Project

Biomass, Raw Materials, Government