In support of global decarbonization efforts and recognizing the fundamental importance of mining to climate and sustainable development goals, this project will facilitate technical assistance to mineral-rich countries in Latin America to foster enabling conditions for responsible investments to develop critical minerals and their value chains by focusing on four areas: (i) strengthening sector governance through robust regulatory and investment frameworks and socioenvironmental standards compliance; (ii) amplifying geological knowledge through technological innovation to improve policymaking and encourage investment by reducing risks in mining exploration; (iii) building a portfolio of low-carbon and technological solutions that support sustainable mining extraction and production practices while reducing emissions and increasing productivity and resource efficiency; and (iv) enhancing local development and infrastructure services in mining areas to maximize benefits, while strengthening value chains and synergies with other productive sectors. Interventions will seek to strengthen collaboration between Latin America and Europe for a reliable and sustainable raw materials supply.
Project Detail
Country
Regional
Project Number
RG-T4442
Approval Date
-
Project Status
Preparation
Project Type
Technical Cooperation
Sector
ENERGY
Subsector
NEW OIL AND GAS AND EXTRACTIVE INDUSTRIES
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental Classification
-
Total Cost
USD 6,513,000.00
Country Counterpart Financing
-
Original Amount Approved
USD 6,513,000.00