The World Bank
The World Bank Group plans to increase its financing for metals and critical minerals fivefold to $19 billion by 2030, as it expands support for mining, mineral processing and infrastructure development in resource-rich countries.
The target, announced by World Bank President Ajay Banga during the International Monetary Fund and World Bank annual meetings in Bangkok in October 2026, represents a significant increase from the $3.6 billion recorded over the 2021–2025 fiscal period.
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The initiative forms part of the institution’s Metals and Minerals implementation plan, which seeks to help developing economies convert mineral resources into domestic industries, employment opportunities and broader economic growth.
The World Bank has identified 20 countries for potential partnerships and launched its first country compacts with eight countries: Argentina, Bolivia, Egypt, India, Kazakhstan, Malawi, Mauritania and Zambia.
However, the $19 billion target represents financing and private capital mobilisation across the World Bank Group's activities. It is not a confirmed lending allocation to individual countries or a commitment to fund every identified project.
World Bank Expands Support for Mineral Processing and Infrastructure
The expanded financing programme is designed to address challenges that prevent mineral-producing countries from capturing more economic value from their natural resources.
Many developing economies export minerals in raw or minimally processed forms, limiting the employment, industrial activity and revenue they retain from extraction.
The World Bank's strategy seeks to encourage investment beyond mining operations by supporting mineral processing, local manufacturing and the infrastructure required to sustain industrial development.
Its proposed interventions include improvements to mineral licensing systems, geological data, environmental and social oversight, workforce development and local supply chains.
Energy and transport infrastructure also feature prominently in the plan, reflecting the importance of reliable electricity and efficient logistics to commercially viable mineral processing.
The World Bank Group intends to use a combination of public financing, policy support, private investment and risk guarantees to attract capital into the sector.
Its International Finance Corporation will support private-sector investment and capital mobilisation, while the Multilateral Investment Guarantee Agency will provide guarantees to help reduce investment risks.
Eight Countries Begin First Round of Partnerships
The first group of countries participating in the World Bank's country compact initiative includes four African economies: Egypt, Malawi, Mauritania and Zambia.
The partnerships are intended to establish national priorities, identify investment opportunities and coordinate policy reforms and infrastructure requirements.
Zambia's programme focuses on expanding copper production and domestic processing, supported by improvements in geological information, licensing, electricity and transport infrastructure.
Egypt is seeking to increase mining's contribution to its economy through regulatory reforms, improved geological data and the development of mineral-processing facilities.
Malawi's priorities include mining governance, infrastructure, local suppliers and transparency in mineral licensing and revenue management. Mauritania is looking to combine mineral development with renewable energy investment to support processing activities.
The inclusion of these countries highlights the World Bank's interest in supporting domestic value addition rather than concentrating financing exclusively on mineral extraction.
However, the country compacts establish development priorities and potential areas for investment; they do not guarantee that all proposed projects will receive financing.
Nigeria's Mineral Sector Faces an Opportunity to Attract Investment
The expansion of World Bank financing comes as African countries seek to attract more investment into mineral exploration, processing and supporting infrastructure.
Nigeria has deposits of minerals including lithium, gold, tin, limestone, iron ore and lead-zinc. Developing these resources could support industrial activity, diversify export earnings and create employment beyond the oil and gas sector.
However, the World Bank's announcement does not identify Nigeria among the eight countries that launched the first country compacts. Although the institution has identified 20 potential partner countries, it has not publicly confirmed a specific financing allocation for Nigeria under the programme.
For Nigeria, the broader financing expansion could provide an opportunity to strengthen its efforts to attract international investment into mineral development, particularly projects that connect extraction with local processing and manufacturing.
Realising these opportunities would require improvements in geological data, licensing processes, infrastructure provision, regulatory certainty and the availability of reliable electricity.
Without these conditions, the country could struggle to attract the long-term capital required to develop commercially viable processing facilities.
Infrastructure and Energy Remain Critical to Mining Investment
The World Bank's focus on infrastructure reflects the significant costs associated with developing mineral-processing industries.
Mining operations and processing facilities require reliable electricity, transport networks, water supply and supporting logistics. These requirements can make projects expensive, particularly in countries where infrastructure remains inadequate.
Africa's efforts to increase domestic mineral processing have already attracted interest from international investors, but unreliable and expensive electricity remains a major obstacle to industrial expansion.
For countries seeking to move beyond raw mineral exports, investment in power generation, transmission, railways, roads and industrial facilities will be essential.
The World Bank's programme could help address some of these constraints by combining financing with policy reforms and guarantees designed to reduce risks for private investors.
However, the scale of investment required means that development finance institutions will need to work alongside governments and commercial investors to deliver viable projects.
Implications for Nigeria's Construction and Real Estate Sectors
An expansion in mining and mineral processing investment could create opportunities across Nigeria's construction, industrial property and infrastructure markets.
New mining operations and processing facilities require industrial buildings, warehouses, worker accommodation, access roads, power infrastructure and logistics facilities. These developments could generate demand for contractors, building-material suppliers, engineering firms and property developers.
The growth of mineral-processing clusters could also encourage investment in industrial parks and supporting commercial infrastructure around resource-producing areas.
For real estate investors, the potential opportunities extend beyond residential development to industrial and logistics properties serving mining and manufacturing businesses.
However, these benefits would depend on actual project approvals, financing commitments and construction activity. The World Bank's $19 billion target does not automatically translate into investment in Nigeria's property market.
The broader significance of the initiative is its emphasis on infrastructure and domestic value addition. If Nigeria can improve its investment environment and attract mineral-processing projects, the resulting industrial development could create new sources of demand for property and construction services.
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