World Bank targets fivefold increase in minerals financing to $19 billion by 2030

The World Bank Group is targeting a fivefold increase in financing for the metals and minerals sector to $19 billion by 2030, as it seeks to help mineral-rich developing economies turn their natural resources into long-term economic prosperity.

The target was outlined in the World Bank Group’s latest Commodity Markets Outlook, which highlighted the importance of building resilience to economic shocks and mobilising private investment to support development.

The initiative comes as countries face fiscal pressures and economic disruptions linked to the conflict in the Middle East, reinforcing the need for both immediate financial assistance and longer-term investment.

World Bank expands minerals financing

The World Bank Group said it plans to increase financing for the metals and minerals sector over the five years to 2030, with a focus on emerging market and developing economies (EMDEs).

• “Over the five years through 2030, the World Bank Group is targeting a fivefold increase in financing of the metals and minerals sector, to $19 billion, to support mineral-rich EMDEs in converting their natural endowments into lasting prosperity,” the lender noted.

The initiative is intended to help resource-rich countries convert their mineral wealth into lasting prosperity while encouraging private-sector investment and job creation.

The institution also said it has simplified and accelerated its approach to mobilising private capital alongside its financing and advisory services.

• The World Bank Group aims to deepen investment in developing economies, particularly in sectors capable of supporting employment.
• It plans to improve conditions for private-sector growth and job creation, including opportunities for young people.
• The financing expansion is part of a broader effort to help countries build resilience against future economic shocks.

The institution is combining long-term development financing with emergency support for countries affected by current economic pressures.

The strategy places greater emphasis on turning mineral resources into sustainable economic benefits rather than relying solely on the export of raw materials.

World Bank makes up to $60 billion available

Alongside its long-term minerals financing target, the World Bank Group said it had made between $50 billion and $60 billion available through existing instruments to support countries dealing with fiscal pressures and the economic effects of the Middle East conflict.

• The funding includes $25 billion in pre-arranged financing and can be used to support vulnerable households, strengthen government finances, and provide working capital and liquidity to businesses and farms.
• According to the institution, 25 countries had received $8.7 billion in support at the time of its announcement.
• Ten countries had redirected $1.8 billion in existing International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD) financing towards crisis-related expenses through its Crisis Toolkit, while 19 countries had accessed $6.9 billion in new financing. Some countries used both forms of support.

The World Bank Group added that it could increase its support to between $80 billion and $100 billion if the conflict and its economic consequences persist.

Nigeria’s mineral exports and revenues rise

Nigeria’s solid minerals sector has recorded growth in export earnings and government revenue, highlighting its potential contribution to the economy.

• Solid mineral exports rose by N113.53 billion year-on-year to N249.70 billion in the first half of 2026, reflecting an increase in the value of mineral products shipped during the period.
• The Nigerian Extractive Industries Transparency Initiative (NEITI) has also reported that the solid minerals sector contributed N1.137 trillion to federal, state and local government revenues between 2007 and 2023.
• Separately, Nigeria’s mining and quarrying sector contributed N723.33 billion in Company Income Tax in 2025.

These figures highlight the sector’s contribution to exports and public revenue, while the World Bank’s proposed financing expansion points to the importance of investment in developing mineral resources and strengthening their wider economic benefits.