A document signing ceremony has been held under ADB's new financing facility, which aims to support countries in Asia and the Pacific in developing supply chains for critical mineral resources needed for clean energy, batteries, electric vehicles, and digital technologies.
According to a Report correspondent from Samarkand, the agreements were signed by ADB President Masato Kanda, Japanese Finance Minister Satsuki Katayama, Chairman and CEO of the Korea Export-Import Bank Hwang Ki-yeon, and Chairman and President of the Korea Trade Insurance Corporation (K-SURE) Jang Young-jin.
The Japanese government has pledged $20 million to the grant window, and the UK government has pledged $1.6 million.
The Export-Import Bank of Korea and the Korea Trade Insurance Corporation each signed memorandums of understanding for $500 million as the first partners of the facility.
The facility builds on ADB's 2025 strategy to support responsible and sustainable value chains-from critical minerals to manufacturing-across the region.