Asian Development Bank launches financing mechanism for critical minerals

The Asian Development Bank (ADB) has launched a Partnership Financing Facility for Critical Mineral Materials (CMMFF), ADB President Masato Kanda announced during a seminar held as part of the 59th Annual Meeting of the ADB Board of Governors.

He said critical minerals form the foundation of industrial transformation, according to local media.

“These are not just raw materials for early-stage production; they are strategic assets. They connect natural resources with green energy, industry, and jobs, playing a central role in the networked future of our region,” Kanda said.

He noted that the Asia-Pacific region is well positioned due to significant mineral reserves and strong industrial capacity, but added that potential alone is not enough.

According to him, many developing member countries with mineral deposits currently focus only on upstream extraction.

“There is huge potential to strengthen vertical integration at local and regional levels, including processing, manufacturing of finished goods, and recycling. Such integration creates jobs, attracts investment, and strengthens economic resilience,” he said.

Kanda stressed the need for a systemic approach covering the entire value chain from extraction to recycling, supported by large-scale investment and strong governance mechanisms.

ADB President said the CMMFF is designed as a flagship platform to support this transition, helping mobilize investment, attract private capital, and strengthen regional cooperation.

He added that early opportunities already exist in Uzbekistan, as well as Mongolia and India, where the ADB is working to link resource development with processing and manufacturing.

Kanda concluded that the initiative is not just another fund, but a commitment to move from dialogue to concrete results and from ambition to real investment, with the ADB prepared to take more risks and act decisively with partner countries.

By Jeyhun Aghazada