New Delhi, May 4 -- The Asian Development Bank (ADB) launched a new financing facility to help countries in Asia and the Pacific develop the critical minerals supply chains required for clean energy, batteries, electric vehicles, and digital technology.

The initiative, titled the Critical Minerals-to-Manufacturing Financing Partnership Facility launched on Sunday, aims to transition the region from a supplier of raw materials to a hub for "high-value industries like processing and recycling."

According to ADB, the facility focuses on project preparation, policy reform, and the mobilization of both public and private capital. The program is designed to move developing member countries into advanced manufacturing sectors while ensuring th...