New project will modernize geoscientific data, streamline permitting, and unlock private investment in strategic minerals
WASHINGTON, March 16, 2026 - The World Bank Board of Directors approved a new project to support Peru in becoming more competitive, transparent, and sustainable in the mining sector-laying the foundation for more and better jobs across the value chain.
The US$200 Million project will contribute to unlocking the economic potential of the country's mineral wealth by generating cutting-edge geoscientific data, modernizing the permitting system, and strengthening institutional capacity.
Mining plays a central role in Peru's economy, accounting for approximately 10 percent of Peru's GDP, and serving as a significant source of both exports and employment. In 2025, Peru's mining exports totaled US$61.849 billion, reflecting strong year-on-year growth. Yet investment has slowed in recent years due to regulatory bottlenecks, permitting delays, and governance challenges.
The project supports Peru's efforts to attract new private investment and create new employment opportunities linked to the global clean energy transition. As demand for critical resources such as copper and other materials essential for clean energy technologies rises-driven by urbanization, expanding electricity demand, the global clean energy transition, digital infrastructure, artificial intelligence, and other mineral-intensive technologies-improved predictability and transparency in the sector are expected to stimulate exploration and mine development, create skilled jobs and workforce development, and strengthen local economies through services, infrastructure, and supply chains.
"Creating more and better jobs is at the heart of Peru's development challenge, particularly for young people and communities in mining regions," said Issam Abousleiman, World Bank Country Director for Bolivia, Chile, Ecuador, and Peru. "By modernizing the mining sector, driving digitalization, fostering innovation, and strengthening institutions, this project will help attract responsible private investment, and translate Peru's mineral potential into sustainable jobs and inclusive growth."
The project will modernize Peru's geoscientific capabilities by producing and disseminating cutting‑edge data, supported by the creation of a National Drill Core Library and a state‑of‑the‑art geochronology laboratory. This will help attract high‑quality exploration investment and reinforce environmental and social management.
The initiative will also advance the development of a Digital One‑Stop permitting platform to streamline authorizations, reduce bottlenecks, strengthen regulatory clarity, and enhance transparency- thereby increasing confidence and helping unlock new private investment in the sector.
The project underscores the role of strong institutions and credible rules in unlocking sustainable growth. By strengthening governance and modernizing core systems, it seeks to restore trust across the mining value chain-helping Peru turn its geological potential into a competitive advantage that delivers jobs, resilience, and shared value over the long term.
