Korea Eximbank highlights move toward 'just in case' economy

Korea Eximbank will allocate up to $500 million to the Asian Development Bank (ADB) over the next three years for the Critical Mineral Mining Financing Facility (CMMFF), President of Korea Eximbank Hwang Ki-yeon said at a seminar dedicated to the launch of the CMMFF within the framework of the 59th Annual Meeting of the ADB Board of Governors held in Samarkand, Report informs.

"Recent global tensions have served as a wake-up call for all of us, proving that we can no longer rely solely on efficiency. We are transitioning from the era of 'just in time' to the era of 'just in case.' In this new reality, resilience becomes our main currency. Today's Memorandum of Understanding with the ADB is our collective response to this challenge. Through our Supply Chain Resilience Funds, Korea Eximbank will allocate up to $500 million over the next three years. By connecting the hidden treasures of this land, such as tungsten and molybdenum, with Korea's advanced technologies, as well as ADB's regional leadership and extensive network, we are laying the foundation for an unbreakable supply chain.

This partnership is not just a document. It is a safety net for Asian trade. We are fully committed to supporting ADB member countries in developing their industrial potential and ensuring access to critical minerals for the future," noted Hwang Ki-yeon.