Government Support for Sustainability of the Extractive Industries

The World Bank Group (WBG) believes that extractive industries can make significant contribution to sustainable development and poverty reduction, providing that environmental, social, and corporate governance issues are properly managed. The WBG recognizes that stakeholders have legitimate concerns about the impact of extractive industries, and management proposals are built around the central theme that investments and policy advice in the extractive industries should lead to poverty reduction. To help governments create appropriate policy and regulatory frameworks, this paper focuses on the linkages between overarching policies and laws and the management / governance of extractive industries at the local communities. It encourages the use of new instruments designed to help ensure that local communities benefit from extractive industries.