Badawi Highlights Investment Opportunities in Petroleum and Mining to IFCKarim Badawi, Minister of Petroleum and Mineral Resources, discussed with representatives of the International Finance Corporation (IFC), the private sector arm of the World Bank, investment and financing opportunities within the domains of petroleum refining, petrochemicals, and value-added industries, as well as the mining sector and the exploitation of mineral ores. Badawi highlighted the reforms and incentive measures implemented over the past year and a half to create an attractive investment climate in the oil and gas sector. These reforms have already facilitated agreements with two prominent global mining companies: AngloGold Ashanti and Barrick Mining Corporation. He noted that the mining sector is among IFC’s top priorities in Africa, with a focus on maximizing the added value of mineral resources. Egypt and the IFC agreed to form joint technical teams last year to study future cooperation opportunities and identify priority mining projects that are eligible for financing, ultimately contributing to sustainable development goals and maximizing Egypt’s economic returns.

Source: The North Africa Journal February 17, 2026 13:41 UTC