New Delhi, Oct. 16 -- The World Bank Group plans to expand its critical minerals business fivefold over the next five years and has identified 20 countries for potential partnerships to develop local industries, President Ajay Banga said on Friday, highlighting efforts to retain more jobs and economic value within developing economies.

Addressing a plenary session of the World Bank's Annual Meetings in Bangkok, Banga said, "In critical minerals, we plan to multiply our business five times in the next five years. This week, we launched our first country compacts with other MDB (multilateral development bank) partners to build local industries and keep more jobs and value at home in the minerals business," adding that they have identified ...