World Bank sets fivefold minerals goal as Fed chairman Warsh flags financial stability risks
The World Bank aims to increase its critical minerals business fivefold over the next five years, while US Federal Reserve chairman Kevin Warsh expressed surprise at the resilience of major economies amid geopolitical shocks and tighter monetary policy. "In critical minerals, we plan to quintuple our business in five years … this week, we launched our first country compacts with MDB partners, to…
The World Bank intends to increase its critical minerals business by fivefold within the next five years, according to World Bank president Ajay Banga who announced this at the 2026 IMF-World Bank Annual Meetings in Bangkok. This ambitious goal comes as the bank seeks to support mining, processing, and local industries through partnerships with countries developing critical minerals.
The World Bank has identified 20 potential partner countries and has already launched its first country compacts to build local industries and keep more jobs and economic value within producing nations. The bank aims to secure $19 billion in critical minerals financing over the fiscal period of 2026-2030, up from $3.6 billion during the previous fiscal period of 2021-2025.
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