On June 1st, Japanese Finance Minister Satsuki Katayama announced that Japan will contribute $20 million to the World Bank to promote investment projects in developing countries, thereby strengthening the supply chain of essential minerals, including rare earth elements.
Speaking at the signing ceremony for Japan's new financial contribution with World Bank President Ajay Banga in Tokyo, Minister Katayama emphasized that Japan hopes the World Bank will actively identify investment projects, particularly in the midstream and downstream segments of the essential mineral supply chain.
According to Ms. Katayama, Japan believes that diversifying the supply chain of minerals crucial to the production of solar panels, batteries, and other clean energy products will help create jobs for local workers while ensuring a stable supply of these resources to importing countries. Therefore, securing the supply of essential minerals is increasingly becoming a matter of survival for a resource-poor nation like Japan.
For his part, the World Bank President emphasized that the goal of the new cooperation program with Japan is not simply to exploit mineral resources, but to support countries in policy-making, institutional reform, attracting private investment, promoting processing activities, developing infrastructure, and most importantly, creating jobs. In addition, both sides agreed to strengthen coordination to implement Japan's $10 billion financial assistance program, which was established to address fuel shortages and supply chain disruptions in Asia caused by the conflict in the Middle East.
Source: https://nhandan.vn/nhat-ban-da-dang-hoa-chuoi-cung-ung-khoang-san-thiet-yeu-post966376.html
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