World Bank Vice President for Infrastructure, Mr. Guangzhe Chen, and the Executive Director for Japan at the World Bank, Mr. Hideaki Imamura inked an administrative arrangement to implement the Resilient and Inclusive Supply-chain Enhancement (RISE) Partnership, launched in October 2023.
Japan is contributing $25 million to RISE and is committed to advancing the initiative in collaboration with various stakeholders. Alongside Japan, countries like Canada, Germany, Italy, the Republic of Korea, and the United Kingdom have pledged initial contributions totaling over $50 million, with more donors expected to join.
The RISE partnership aims to assist emerging markets and developing countries (EMDCs) in increasing manufacturing of clean-energy products and enhancing participation in the minerals industry, fostering local job creation and economic growth.
RISE will focus on three key areas: conducting comprehensive analytical work, delivering technical assistance, and promoting capacity building and skills development. Additionally, RISE will facilitate investment by leveraging local/regional information platforms (LIP) and fostering collaborative partnerships among governments, investors, Regional Development Banks, bilateral Development Finance Institutions, Export Credit Agencies, and industry associations.
