Development banks once again targeting the mining sector

Global development financing is declining, except for the mining sector, which is seeing increased investments from development banks. The World Bank estimates that demand for minerals will double by 2040, requiring an additional $500 billion in investments. Over the past four years, the World Bank has invested $3.6 billion and plans to increase this to $19 billion annually. Recently, it signed cooperation agreements with eight countries, including four in Africa, to support industrial transformation of materials and reduce reliance on raw mineral exports.