The EGPS grant will be used to support reforms in the country’s mining sector. Credit: © Ministry of Finance, Royal Government of Bhutan

The World Bank has awarded a grant to the Royal Government of Bhutan to support reforms in the mining sector.

The Work Bank-led Extractives Global Programmatic Support (EGPS) multi-donor trust fund provided the $300,000 grant, which is expected to enable the Department of Geology and Mines to implement its 2017 Mineral Development Policy.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Under the reforms project, known as the Supporting Minerals Management Policy Reform, the government will amend the 2002 Mines and Minerals Management Regulations to conform to global best practices on various aspects, such as mine allocation, use of strategic minerals and mineral pricing.

“This grant will provide support to the ongoing sector reforms and help in accelerating development of the mining sector.”

Bhutan Finance Minister Lyonpo Namgay Dorji said: “The mining sector is one of the five jewels of the economy. It is an important sector and currently it accounts for 3% of GDP.

“This grant will provide support to the ongoing sector reforms and help in accelerating development of the mining sector.”

In addition, the grant will be used to support advocacy programmes for the implementation of the Mineral Development Policy, develop technical capabilities within the Mineral Development Division, and augment information system and compliance monitoring.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The EGPS grant comes after the World Bank previously provided technical assistance to develop the Mineral Development Policy and the draft Mines and Minerals Management Bill.

Bhutan Ministry of Economic Affairs Secretary Dasho Yeshi Wangdi said: “This grant is very timely as we are looking to bring major reforms in the mineral sector to curb many of the issues faced in the past.

“Our aim is to have a stronger and vibrant mineral sector to manage the country’s mineral resources for maximum benefit to the nation and the people.”

The technical assistance provided by the bank is expected to help improve the nation’s business environment and attract more private sector investments.