Bessent urges World Bank to shift funding towards critical minerals
Geopolitics · Mining.com ·
US Treasury Secretary Scott Bessent has called on the World Bank to prioritize funding for critical minerals projects to reduce dependence on Chinese supply chains. Bessent argued the institution should back 'high-quality, durable projects' focused on mining and processing rather than climate-focused financing. The push reflects a broader policy shift to use multilateral development finance as a strategic tool against China's mineral dominance.