Economy
World Bank targets fivefold increase in critical-minerals financing by 2030
World Bank President Ajay Banga said the lender aims to quintuple its critical-minerals business within five years, targeting $19 billion in financing during fiscal 2026-30, compared with $3.6 billion in the previous five-year period. The plan includes partnerships with 20 countries and new country compacts intended to build local industries and retain more value domestically. The expansion responds partly to US pressure for greater minerals financing, while the bank says any deep-sea-mining involvement will follow a precautionary approach.
Editorial summary · Publisher article
What matters
- The World Bank identified 20 potential partner countries for critical-minerals projects.
- The new implementation plan targets $19 billion in financing through fiscal 2030.
- The bank says its country compacts aim to support local processing, jobs and value retention.
- Deep-sea mining remains subject to a precautionary approach and existing bank policies.
Why this made the edition
The report provides specific financing targets, countries, policy context and safeguards around critical-minerals investment.
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