World Bank Plans Significant Increase in Critical Minerals Financing to $19 Billion

World Bank President Ajay Banga announced plans to boost the institution's critical minerals financing fivefold to $19 billion between fiscal years 2026 and 2030. This initiative, revealed at the IMF-World Bank meetings in Bangkok, aims to partner with 20 countries to develop local industries and strengthen global supply chains for essential minerals. The move seeks to secure vital resources for the energy transition and reduce reliance on concentrated supply sources.