World Bank Group and Japan expand cooperation on critical minerals and energy resilience

World Bank President Ajay Banga and Japan’s Minister of Finance Satsuki Katayama agreed on June 1, 2026, in Tokyo to strengthen collaboration aimed at helping developing countries build more resilient supply chains and energy systems. The two officials signed a document launching the Resilient and Inclusive Supply-chain Enhancement Plus (RISE+) initiative and endorsed a new framework called Dynamic Response for Invigorating Value Chains and Energy Security (DRIVE), according to a press release. Together, these initiatives extend Japan’s existing partnerships with the World Bank Group on critical minerals and regional energy security. The agreement seeks to unlock investment, jobs, and long-term economic growth. It builds on cooperation established during Japan’s G7 presidency in 2023.

RISE+ complements the Resilient and Inclusive Supply-Chain Enhancement (RISE) Partnership, originally launched under Japan’s G7 presidency in 2023. DRIVE, in turn, complements POWERR Asia (Partnership on Wide Energy and Resources Resilience Asia), Japan’s $10 billion framework designed to address fuel supply shortages and supply chain disruptions in Asia stemming from the conflict in the Middle East. Both new initiatives reinforce ongoing engagement between Japan and the World Bank Group. They focus on the Asia-Pacific region as well as on importing economies including Japan. The cooperation reflects a coordinated public and private sector approach.

RISE+ is a new $20 million facility established under Japan’s single-donor trust funds. It will help developing nations translate growing demand for key infrastructure development and private capital mobilization for supply chains of critical minerals, including rare earths, into concrete public and private investment. The facility is aligned with Country Compacts and aims to support industrial development and quality jobs. By coordinating public and private sector action, RISE+ seeks to help countries turn natural resource wealth into lasting economic opportunity. The facility expands Japan’s role in shaping resilient global supply chains.

Through DRIVE, the World Bank Group will collaborate with Japanese government agencies including the Japan Bank for International Cooperation and the Japan International Cooperation Agency. The partnership will help the most affected countries stabilize their economies and build more resilient energy systems through sovereign lending and private sector solutions. It will also provide analysis and technical assistance, strengthen supply chain management, improve crisis preparedness, and help vulnerable countries pool their purchasing power. “We appreciate Japan’s leadership in enhancing critical minerals supply chain resilience through RISE+ and strengthening energy security through POWERR Asia,” said Ajay Banga, President of the World Bank Group. He added that the initiatives “will help countries turn growing demand for clean energy and critical minerals into investment, jobs, and economic opportunity that improve lives across developing economies.”

Japan’s Minister of Finance Katayama Satsuki described the initiatives as “win-win policies that contribute not only to the creation of high-quality jobs and sustainable economic growth in developing countries, but also to helping ensure stable supply for importing countries, including Japan.” Together, RISE+ and DRIVE are designed to translate growing demand for critical minerals and clean energy into concrete public and private investment. They aim to strengthen regional supply chains and energy resilience, particularly in the Asia-Pacific region. The initiatives also seek to contribute to stable economic growth in developing economies, in Japan, and in the global economy. The framework leverages the World Bank Group’s expertise and Japan’s leadership in energy security.