The World Bank, African Development Bank, Asian Development Bank, EBRD, EIB and IDB have outlined a framework to help mineral-rich developing countries move beyond extraction into processing, refining and manufacturing. The plan includes financing, infrastructure and policy support, with a focus on mineral corridors that bundle power, transport, logistics, water and digital infrastructure. The banks say they will use co-financing, guarantees and other tools to attract private capital. Critical minerals are central to the low-carbon transition, but most processing and refining capacity sits in a few countries. The framework is short on hard targets or funding commitments, so the real test will be whether project preparation and environmental standards align across six institutions. An MDB working group will report annually on progress.
