The Korea Times
The Export-Import Bank of Korea (Korea Eximbank) has signed a $500 million (735 billion won) financing agreement with the Asian Development Bank (ADB) to support critical minerals projects in developing countries, the state-run lender said Monday. The agreement was signed by Korea Eximbank CEO Hwang Ki-yeon and ADB President Masato Kanda the previous day in Samarkand, Uzbekistan, on the sidelines of the ADB's annual meeting. Under the deal, Eximbank will participate in a newly established ADB-led financing platform called the Critical Minerals-to-Manufacturing Financing Partnership Facility (CMM FPF), aimed at strengthening critical minerals supply chains across Asia and the Pacific. Eximbank plans to commit up to $500 million by 2029 through its supply chain stabilization fund, using a mix of loans, guarantees and investments. ADB aims to scale up the overall financing pool to between $2 billion and $3 billion. The two institutions will jointly identify promising critical minerals projects in developing countries and provide cofinancing across the value chain, including exploration, ext
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