IDB Group Launches IDB LAC Minerals

Initiative gathered strong international support

ASUNCIÓN — The Inter-American Development Bank Group (IDB Group) today launched IDB LAC Minerals, a new initiative to develop more value-added and secure supply chains for critical minerals originating in Latin America and the Caribbean. 

IDB LAC Minerals aligns interests that can benefit both the region and its trusted partners around the world. The platform brings together Latin America and the Caribbean with global partners to foster safe, value-added supply chains originating in the region. This growing coalition reflects a shared objective: advancing responsible mineral development, strengthening value chains, and building resilient, diversified global supply chains. 

Each party brings its contribution. Latin America and the Caribbean brings scale in minerals and a growing commitment to value addition. Global partners bring long-term demand and attractive financing, advanced technology, and capital. The IDB Group bridges the two — supporting policy and regulatory frameworks, catalyzing private investment, and financing processing and value-chain infrastructure. 

The initiative brings together the IDB Group’s technical assistance and financing — including blended financial instruments — to support not only more mineral extraction, but also possible refining and processing.  

“With IDB LAC Minerals, we want to help countries have better regulations and infrastructure, mobilize private investment, and strengthen institutions to have a strong pipeline of mineral projects and move up the value chain with refining and processing to enhance growth and create jobs. The region brings resources and opportunity; the world brings technology, capital, and long-term contracts and attractive pricing. The IDB Group helps bridge the two,” said Ilan Goldfajn, president of the IDB Group.  

Several international partners announced support for the IDB LAC Minerals initiative during the 2026 IDB Group Annual Meetings: 

• Japan announced a $20 million contribution through the Japan Resilience Initiative to support IDB LAC Minerals and related efforts to strengthen resilience and sustainable development in the region, while reaffirming its intention to continue working with the IDB Group to further scale this cooperation. 
• Canada is also exploring integrated support, including grant-funded technical assistance, potential blended financing, and a potential credit-substitution guarantee. 
• Finland stands ready to become a knowledge partner on sustainable mining for the IDB LAC Minerals initiative and intends to facilitate co-investment and explore financial instruments, such as the Finland-LAC Blended Finance Climate Fund.
• Italy, through Cassa Depositi e Prestiti, will explore financial instruments to support investment-ready opportunities in the region.

The launch of the IDB LAC Minerals initiative was also met with strong expressions of support from IDB Group borrowing member countries and 13 non-borrowing members, including Germany, Spain, France, Sweden, Switzerland, the United Kingdom, and the United States, among others, reflecting growing international alignment around the role of Latin America and the Caribbean in securing resilient and diversified critical-mineral supply chains. Government representatives emphasized the importance of working together to advance shared objectives on responsible mineral development, value-chain integration, and long-term collaboration.

IDB LAC Minerals is a direct response to a new global reality. Demand for minerals used in energy systems, advanced technologies, and artificial intelligence is rising rapidly, placing the region at the center of the emerging minerals landscape. Latin America and the Caribbean accounts for about 30% of global mineral supply and roughly $180 billion in annual metals exports, yet most exports remain raw materials. Through IDB LAC Minerals, the IDB Group will work with countries across the region to expand refining and processing and create jobs, build industrial capacity, and strengthen supply chains.

Heads of delegations of the following member countries signed (from left to right): Emmi Oikari, Finland; James Scriven, CEO, IDB Invest; Patricia Peña, Canada; Ilan Goldfajn, IDB Group President; Shuichi Hosoda, Japan; Cristina Morelli, Italy; Lawrence Bartolomucci, Italy.