page_title: Mali and the World Bank
section_title: Mining Projects
hierarchical_section_title: Mali and the World Bank / Resource Projects / Mining Projects
caption_attribution_description: English: Farmers harvesting cotton, often called the 'gold of Africa'... (Fama, Mali) This is an image of "African people at work" from Mali
context_page_description: Mali joined the World Bank Group in 1963 after they gained their independence from France in 1960. They are a low-income country with 41.3% of their population living under the poverty line in 2019. Additionally, Mali is a landlocked country whose economy is vulnerable to changes in climate. Thus, Mali has relationships with the International Bank for Reconstruction and Development, International Development Association, International Finance Corporations, and the Multilateral Investment Guarantee Agency. In 2019, the IBRD and IDA committed to lending 500 million US dollars to projects in Mali, a large jump from 2018, where only US$178 million was lent. The bank group is currently involved in 30 projects in the region.These projects focused on areas such as mining, cotton, climate change, good governance, and health. Since 2013, the World Bank Group has worked alongside their UN mission counterpart, MINUSMA to create stability and growth in the region. The current World Bank Country Director for Mali is Soukeyna Kane.
context_section_description: Since the late 1990s, Mali’s economy has mainly been focused on gold mining. Consequently, since this time the World Bank has funded projects to increase foreign investors in this sector.The IDA has funded structural and good governance projects for the mines, including a recent US$40 million in June 2019.  The IFC is invested in the Sadiola mine as a shareholder. Given the World Banks involvement, the mine is required to follow certain IFC guidelines. In terms of the environmental impacts of mines, the World Bank provides required norms be followed. However they are self tested and reported by companies.
caption: Cotton Harvesting
exif: {}