Page "Mining" Paragraph 59

The World Bank has been involved in mining since 1955, mainly through grants from its International Bank for Reconstruction and Development, with the Bank's Multilateral Investment Guarantee Agency offering political risk insurance.

Between 1955 and 1990 it provided about $ 2 billion to fifty mining projects, broadly categorized as reform and rehabilitation, greenfield mine construction, mineral processing, technical assistance, and engineering.

These projects have been criticized, particularly the Ferro Carajas project of Brazil, begun in 1981.

The bank established mining codes intended to increase foreign investment, in 1988 solicited feedback from 45 mining companies on how to increase their involvement.