LUSAKA, Oct 16 – The World Bank Group plans to quintuple its critical minerals business over five years, targeting $19 billion in financing between fiscal 2026 and 2030 as it expands support for mineral-producing countries seeking to attract investment, develop local industries and retain more economic value domestically.
World Bank President Ajay Banga announced the ambition in prepared remarks at a plenary session during the International Monetary Fund and World Bank annual meetings in Bangkok.
“In critical minerals, we plan to quintuple our business in five years,” Banga said. “This week, we launched our first country compacts with MDB partners—to build local industries and keep more jobs and value at home.”
The bank’s Metals and Minerals implementation plan envisages increasing critical minerals financing to $19 billion in fiscal 2026-2030, from $3.6 billion during the preceding five-year period. The strategy reflects growing interest in securing mineral supplies while helping producing countries capture more of the economic benefits through processing, infrastructure and domestic industrial development.
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