World Bank Aims to Quintuple Critical Minerals Financing to $19 Billion Over Five Years

World Bank President Ajay Banga announced a new goal to quintuple the development lender's critical minerals business, targeting $19 billion in financing over the fiscal 2026-2030 period, a significant increase from $3.6 billion in the previous five years. This initiative, revealed at the IMF and World Bank annual meetings in Bangkok, aims to build local industries and keep more jobs and value in critical mineral-producing countries, aligning with calls from major shareholders like the United States for increased investment in this sector.