The Asian Development Bank (ADB) has launched a new financing facility aimed at helping countries in Asia and the Pacific move up the value chain in critical minerals, a sector seen as central to clean energy, electric vehicles, and digital technologies.
Announced at ADB’s 59th Annual Meeting, the Critical Minerals-to-Manufacturing Financing Partnership Facility is designed to shift the region’s role from raw material supplier to a hub for processing, manufacturing, and recycling.
“Critical minerals will shape the next industrial era,” said Masato Kanda, ADB president. “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.”
The facility combines public and private financing tools to support projects across the supply chain, from early-stage development to large-scale investments. It includes a grant window to fund feasibility studies, environmental assessments, and technical support, alongside a catalytic finance window designed to attract cofinancing and share risks with partners.
Initial backing includes $20 million from the Government of Japan and $1.6 million from the United Kingdom for grant funding. On the financing side, Korea Eximbank and the Korea Trade Insurance Corporation have each committed $500 million through partnership agreements.
ADB said the initiative builds on its broader push to develop sustainable critical minerals industries across the region. Ongoing efforts include battery manufacturing and recycling projects in India, geological mapping in Mongolia, and policy and regulatory support in countries such as the Philippines and Kazakhstan.
All projects under the facility will be subject to ADB’s environmental and social safeguards, as well as due diligence requirements.
The bank said the initiative aims to help countries meet rising demand for clean energy and digital technologies while generating jobs and expanding industrial capacity across Asia and the Pacific.
