𝐷𝑖𝑙𝑖, 𝑇𝑖𝑚𝑜𝑟-𝐿𝑒𝑠𝑡𝑒, 17 𝑀𝑎𝑟𝑐ℎ 2026

His Excellency Francisco da Costa Monteiro, Minister of Petroleum and Mineral Resources, held a meeting with Ms. Keiko Miwa, Division Director at the International Finance Corporation (IFC), and Mr. David Freedman, World Bank Country Representative for Timor-Leste, to discuss potential cooperation and opportunities to support Timor-Leste’s economic development.

The meeting provided an opportunity to exchange views on strengthening collaboration between Timor-Leste and the World Bank Group, particularly in supporting investment, infrastructure, and private sector development.

Minister Monteiro highlighted Timor-Leste’s strategic priorities in the oil and gas sector, including the development of the Greater Sunrise project, the potential of Bayu-Undan, and other upstream and downstream opportunities. His Excellency also noted ongoing efforts to advance exploration activities both onshore and offshore, as well as developments in the minerals sector.

The Minister further emphasised the importance of mobilising technical and financial support to advance key national projects, including strategic downstream developments and associated infrastructure, while also noting potential areas of cooperation in carbon capture and storage. His Excellency welcomed continued engagement with the IFC and the World Bank Group to explore financing mechanisms and support for project development.

Ms. Miwa and Mr. Freedman reaffirmed the World Bank Group’s commitment to supporting Timor-Leste, including through efforts to enhance the investment climate, support job creation, and explore opportunities for involvement in priority sectors in line with their mandate.

The meeting concluded with both sides expressing their readiness to continue close cooperation and technical engagement in support of Timor-Leste’s development priorities.