Ecobiz.asia — The Asian Development Bank (ADB) has launched a new financing initiative aimed at developing critical minerals supply chains across Asia and the Pacific to support clean energy, battery production, electric vehicles, and digital technologies.
The initiative, unveiled during ADB’s 59th Annual Meeting in Samarkand on May 3, 2026, seeks to help countries move beyond raw material extraction into higher-value activities such as processing, manufacturing, and recycling.
ADB President Masato Kanda said critical minerals will play a central role in the next phase of industrial development.
“Critical minerals will shape the next industrial era. Asia and the Pacific should be more than a source of raw materials. The region should also capture the jobs, technology, and value these minerals provide,” he said in a statement on Sunday (May 3, 2026).
The new facility, called the Critical Minerals-to-Manufacturing Financing Partnership Facility, is designed to support project preparation, policy reforms, and financing across the minerals value chain.
It consists of two main components: a grant window and a catalytic finance window.
The grant window will fund early-stage project development, including feasibility studies, environmental and social assessments, and technical assistance. The Japan has committed $20 million to this window, while the United Kingdom has pledged $1.6 million.
Meanwhile, the catalytic finance window aims to mobilize co-financing and risk-sharing from development partners. Korea Eximbank and Korea Trade Insurance Corporation have each signed $500 million memoranda as initial partners.
The facility builds on ADB’s broader strategy to develop sustainable and responsible critical minerals supply chains in the region. Ongoing support includes battery manufacturing and recycling projects in India, geological data mapping in Mongolia, and policy development initiatives in Kazakhstan and the Philippines.
ADB has also collaborated with partners to establish a Critical Minerals Database to improve transparency and coordination in supply chains.
All projects financed under the facility will be subject to ADB’s environmental and social safeguards, including due diligence and impact assessments.
The initiative is expected to help meet growing demand for clean energy technologies while supporting job creation and inclusive economic growth across the region. ***
