The United States and its allies must encourage mining projects in countries where Western corporations are reticent to do business to guarantee a reliable and sustainable global supply of the critical minerals needed to combat climate change, a senior White House official said on Monday.
The capital could flow through U.S. agencies like the U.S. International Development Finance Corporation, Export-Import Bank of the United States and global institutions like the World Bank and International Monetary Fund. Those collaborations must offer countries incentives to improve their communities and quality of life, Hochstein said.
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