What's Happening?
The World Bank has established RISE Plus (RISE+), a new pillar under the PHRD Technical Assistance Program, in September 2026. This initiative aims to transform upstream policy, data, and institutional work in critical minerals value chains into tangible,
transaction-oriented support for developing countries. RISE+ is designed to help these nations move from identifying reform and investment pipelines to securing bankable investments, fostering high-quality job creation, increasing local value addition, and diversifying value chains. The International Finance Corporation (IFC) will also implement RISE+ through the Comprehensive Japan Trust Fund (CJTF). This new facility complements the existing Resilient and Inclusive Supply Chain Enhancement Partnership (RISE), managed by the World Bank’s Extractives Global Programmatic Support (EGPS) Trust Fund. While RISE focuses on policy dialogue, sector reform, and capacity building, RISE+ will concentrate on the transaction support necessary to convert these frameworks into viable investment opportunities. The initiative will prioritize midstream and downstream opportunities, including processing, refining, and enabling infrastructure, where investment preparation and risk mitigation can attract private capital.
Why It's Important?
The establishment of RISE Plus is significant for the global critical minerals sector and for developing economies. Critical minerals are essential for the energy transition and various high-tech industries, making secure and diversified supply chains a strategic priority worldwide. By providing transaction-oriented support, RISE+ directly addresses a key challenge for developing countries: translating policy reforms into actual investments. This initiative can unlock substantial private capital for critical mineral projects, which is crucial for meeting the growing global demand. For the U.S. and other developed nations, this could lead to more stable and diversified sources of critical minerals, reducing reliance on a few dominant suppliers and enhancing supply chain resilience. Furthermore, by promoting local value addition and job creation in developing countries, RISE+ supports sustainable development goals and can foster economic stability in resource-rich nations, potentially mitigating geopolitical risks associated with mineral supply.
What's Next?
RISE Plus is set to support emerging markets and developing economies in preparing, structuring, and advancing priority investments across critical minerals value chains. The immediate next steps will involve identifying specific projects and countries that can benefit from this transaction support, with a particular emphasis on midstream and downstream activities like processing and refining. The World Bank Group, in collaboration with the IFC and through the Comprehensive Japan Trust Fund, will begin deploying resources to help de-risk these investments and attract private sector participation. Stakeholders, including governments of developing nations, private investors, and international organizations, will likely engage in dialogues to align project pipelines with the objectives of RISE+. The success of RISE+ will be measured by its ability to convert identified opportunities into concrete, bankable projects, leading to increased investment and diversified critical mineral supply chains globally.
Beyond the Headlines
The launch of RISE Plus signals a broader strategic shift in how international financial institutions are addressing the complexities of critical mineral supply chains. Beyond simply funding projects, the initiative emphasizes a holistic approach that integrates policy reform with practical transaction support, recognizing that both are essential for attracting sustainable investment. This could set a new precedent for development finance, where upstream policy work is more directly linked to downstream investment outcomes. Ethically, by focusing on high-quality job creation and local value addition, RISE+ aims to ensure that resource extraction benefits host countries more equitably, potentially mitigating historical criticisms of resource exploitation. Legally and environmentally, the emphasis on 'bankable investments' implies adherence to international standards for environmental, social, and governance (ESG) practices, which could drive better sustainability outcomes in the mining sector. This initiative reflects a long-term vision for a more resilient, diversified, and ethically sound global critical minerals ecosystem.
