ADB launches new financing facility to boost critical minerals supply chains in Asia-Pacific
The Asian Development Bank (ADB) launched a new financing facility to help countries in Asia and the Pacific develop critical minerals supply chains needed for clean energy and digital technology. The facility aims to move the region beyond mining and into higher-value industries such as processing, manufacturing, and recycling.
The Asian Development Bank (ADB) has launched a new financing facility to support the development of critical minerals supply chains in Asia and the Pacific. The Critical Minerals-to-Manufacturing Financing Partnership Facility will help prepare projects, reform policies, and support public investment and private financing across critical minerals value chains. The facility has two parts: a grant window and a catalytic finance window. The grant window has received commitments of $20 million from Japan and $1.6 million from the United Kingdom. Korea Eximbank and the Korean Trade Insurance Corporation have signed a $500 million memorandum as the facility's first partners. The ADB will ensure that all projects supported through the facility meet its strict environmental and social requirements.
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