World Bank Targets $19 Billion Push into Critical Minerals

The proposed $19 billion investment for the 2026–2030 fiscal period marks a significant escalation from the $3.6 billion allocated during the previous five-year cycle. This shift aligns with pressure from the United States, the bank’s largest shareholder, which has urged the lender to prioritize mining and processing capacity. U.S. Treasury Secretary Scott Bessent specifically advocated for the bank to mitigate financial risks for private investors and support infrastructure, even suggesting involvement in deep-sea mining.

While Banga remained silent on the controversial topic of deep-sea extraction, the official Metals and Minerals implementation plan suggests a cautious stance, noting that any future engagement must strictly adhere to existing institutional policies. Beyond minerals, the bank reported a broader financial expansion, mobilizing $112 billion in private capital during the 2026 fiscal year—a threefold increase since 2022. Total financing for the period reached $230 billion, reflecting a concerted effort to scale the bank's influence in global industrial development.