Nigeria: Mineral Sector Support for Economic Diversification Project (MinDiver) (WB-P159761)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 14, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Federal Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 26, 2019

Disclosed by Bank Jul 14, 2016


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Project Description

The project objective is to enhance the mining sector's contribution to the economy by strengthening key institutions, improving information infrastructure and knowledge, and fostering domestic investment in the sector. This project is designed to deliver both short-term results (1 – 2 years) and longer-term results (4-5 years). Targeted activities expected to produce ‘quick win’ results which will be implemented earlier on in project implementations include the following:
(1) Undertaking a demand/gap analysis of industrial minerals required by the local industries to explore some import substitution potentials as well as facilitate the flow of mineral transactions.
(2) Facilitating access to finance, technology and equipment, knowledge, and markets as well as provision of mineral extension services;
(3) Supporting the mining and processing of the minerals and dimension stones to meet the required specifications of the local industries in accordance with best practices; and
(4) Developing measures for formalizing, regulating and inventorying artisanal and small-scale mining (ASM).

Investment Description
  • World Bank (WB)
Contact Information

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