World Bank Group and Japan have agreed to deepen collaboration to help developing countries build more resilient supply chains and energy systems. This partnership would unlock investment, create jobs, and foster long-term economic growth.

The leaders formalised this commitment by signing documents to launch two key initiatives i) the Resilient and Inclusive Supply-chain Enhancement Plus (RISE+) ii) the Dynamic Response for Invigorating Value Chains and Energy Security (DRIVE). 

These initiatives build upon Japan’s existing partnerships with the World Bank Group on critical minerals and regional energy security.

Ajay Banga, President of the World Bank Group, said, “We appreciate Japan’s leadership in enhancing critical minerals supply chain resilience through RISE+ and strengthening energy security through POWERR Asia.”

“ These 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, said, “Critical mineral supply chain diversification through RISE+, and promotion of resilient regional supply chains and energy transition in the Asia-Pacific through DRIVE are both win-win policies.”

She added, “They contribute not only to the creation of high-quality jobs and sustainable economic growth in developing countries, but also help ensure stable supply for importing countries, including Japan. I welcome the opportunity to leverage the World Bank Group’s expertise and policy tools in advancing these initiatives.”

Expanding support for critical minerals with RISE+

Japan will launch RISE+, a $20 million facility under its single-donor trust funds, building on the original RISE Partnership initiated during its G7 presidency in 2023.

RISE+ is designed to assist developing nations in converting the rising demand for critical minerals, such as rare earth elements, into tangible public and private investments. This will support infrastructure development and mobilise private capital for supply chains critical to industrial growth and quality job creation, particularly aligned with Country Compacts.

RISE+ helps countries turn their natural resource wealth into sustainable economic opportunities by coordinating public and private sector efforts, promoting industrial development and inclusive growth.

Building energy resilience through DRIVE

The DRIVE framework supports Japan’s $10 billion POWERR Asia (Partnership on Wide Energy and Resources Resilience Asia) initiative, which tackles fuel supply shortages and supply chain disruptions in Asia due to conflicts in the Middle East.

Through DRIVE, the World Bank Group, in partnership with Japanese government agencies including the Japan Bank for International Cooperation and the Japan International Cooperation Agency, will support the most affected countries in stabilising their economies and constructing more resilient energy systems. This will be achieved through sovereign lending and private sector solutions.

The partnership leverages the World Bank Group’s global expertise and Japan’s leadership in energy security to provide analysis, technical assistance, and capacity building. 

It focuses on strengthening supply chain management, improving crisis preparedness, and enabling vulnerable countries to pool purchasing power to secure timely access to critical energy supplies.

Together, RISE+ and DRIVE aim to help developing countries translate the growing global demand for critical minerals and clean energy into concrete public and private investments. These investments are expected to drive industrial growth and job creation.

Both initiatives are designed to contribute to stable and sustainable economic growth, particularly in the Asia-Pacific region, and their benefits extend beyond developing countries to Japan and the broader global economy.