ADB Launches Critical Mineral Supply Chain Finance Scheme
The Asian Development Bank launched a facility to support critical mineral supply chains in Asia. Korea Eximbank and K-SURE pledged one billion dollars.
The Asian Development Bank (ADB) launched a financing scheme on Sunday morning to develop critical mineral supply chains with $1 billion in initial commitments. The facility supports infrastructure for processing, manufacturing, and recycling minerals used in clean energy, batteries, and electric vehicles. This initiative signals a shift for developing Asian economies from raw material exporters to high-value participants in the global technology sector.
### Moving Beyond Raw Materials ADB President Masato Kanda announced the facility at the bank's annual meeting in Samarkand on Sunday morning. The scheme aims to ensure the Asia-Pacific region captures the jobs and technology associated with mineral wealth rather than just providing raw inputs.
