Manila: The Asian Development Bank (ADB) has launched a financing facility aimed at helping countries in Asia and the Pacific develop critical minerals supply chains that support clean energy, batteries, electric vehicles, and digital technologies.

According to Philippines News Agency, the Critical Minerals-to-Manufacturing Financing Partnership Facility, introduced on Sunday, features two components: a grant window and a catalytic finance window. This initiative is designed to support project preparation, policy reforms, and investments across critical minerals value chains, engaging both public and private sectors.

The grant window of the facility will fund early-stage project development. This includes feasibility studies, environmental and social assessments, technical assistance, and knowledge-sharing initiatives. ADB has reported that the government of Japan has committed USD20 million to this grant window, while the government of the United Kingdom has pledged USD1.6 million.

The catalytic finance window is intended to mobilize cofinancing and enable risk-sharing with other financing partners. As initial partners, Korea Eximbank and the Korean Trade Insurance Corporation have each signed a USD500-million memorandum under the facility.

ADB President Masato Kanda emphasized the importance of critical minerals in shaping the next industrial era. He stated, "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 further added, "This facility is about urgency and fairness: building responsible supply chains now, so our developing member countries can compete in advanced manufacturing and create opportunities at home."