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Source: Reuters.
- The banks involved include the World Bank, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank and the Inter-American Development Bank, according to the outline.
- The October framework calls for co-ordinated support across critical mineral supply chains, including financing, infrastructure and policy aimed at creating jobs, boosting domestic value addition, attracting private investment and supporting low-carbon transition.
- MDBs plan to support mineral corridors incorporating power, transport, logistics, water and digital infrastructure, while strengthening project preparation and using co-financing, guarantees and other financing tools to mobilise capital and accelerate private sector investments.
- They will also seek closer alignment on environmental and social standards, co-ordinate support to governments and better connect mining projects with infrastructure and industrial development.
- An MDB working group will coordinate implementation of the framework's objectives and report annually to the Heads of MDBs Group on progress.