The Royal Government of Bhutan received US$300,000 grant from the Work Bank-led Extractive Global Programmatic Support (EGPS) multi-donor trust fund to support reforms in the mining sector and assist the Department of Geology and Mines (DGM), Ministry of Economic Affairs with the implementation of the Mineral Development Policy 2017.
The project, “Supporting Minerals Management Policy Reform”, will help (i) revise the Mines and Minerals Management Regulations 2002; (ii) access international best practice advice on mines allocation, strategic minerals and mineral pricing; (iii) support advocacy programs for the implementation of the Mineral Development Policy; (iv) build technical capacity within the DGM; and (v) enhance information system and compliance monitoring of the mines.
The grant is part of the World Bank continued support to the mining sector in Bhutan. The Bank previously provided technical assistance to develop the Mineral Development Policy and the draft Mines and Minerals Bill of Bhutan through several stages of consultations with various stakeholders and private mining firms.
The grant agreement was signed between the Hon’ble Finance Minister, Lyonpo Namgay Dorji and Mr. Yoichiro Ishihara, Resident Representative, World Bank on June 5, 2018.