Announced during ADB’s 59th Annual Meeting, the initiative underscores the growing importance of minerals such as lithium, nickel, and cobalt in powering the global energy transition.
Two-pronged facility
The Critical Minerals-to-Manufacturing Financing Partnership Facility is designed to move economies beyond extraction into processing, manufacturing, and recycling.
It features two components: a grant window and a catalytic finance window.
The grant window will support early-stage project development, including feasibility studies, environmental and social assessments, and technical assistance. Japan has committed $20 million, while the United Kingdom has pledged $1.6 million.
Meanwhile, the catalytic finance window aims to attract cofinancing and share risks with development partners. Korea Eximbank and the Korean Trade Insurance Corporation (K-SURE) have each signed $500-million memoranda, becoming the facility’s first major partners.
The structure is expected to unlock both public and private investment across the minerals value chain.
Regional efforts
The new facility builds on ADB’s 2025 strategy to promote sustainable and responsible minerals development. Ongoing initiatives include battery manufacturing in India, geological mapping in Mongolia, and circular economy approaches in Uzbekistan.
Sustainable growth
ADB said the facility aims to meet rising demand for clean energy and digital technologies while generating jobs and promoting inclusive growth across the region.
Founded in 1966, ADB is a multilateral development bank owned by 69 members, with a mandate to foster sustainable, inclusive, and resilient development in Asia and the Pacific. —Ed: Corrie S. Narisma
