MSP Finance Network was launched by India and 14 other members of MSP including USA, Australia, Canada, Italy, Japan and European Union. 

• Network will strengthen cooperation and promote information exchange and co-financing among participating institutions to advance diverse, secure, and sustainable supply chains for critical minerals.
• Network will drive sustainable investment in global critical mineral supply chains, including by mobilizing private sector capital, in production, extraction, processing, recycling, and recovery projects. 

About Minerals Security Partnership (MSP)

• MSP is a collaboration of 14 countries and European Union to catalyze public and private investment in responsible critical minerals supply chains globally.
  • India joined MSP in 2023. 
• MSP focuses on the minerals and metals supply chains most relevant for clean energy technologies.  
  • These include – but are not limited to – lithium, cobalt, nickel, manganese, graphite, rare earth elements, and copper.

Significance of Critical Minerals

• Economic growth: Cobalt, nickel, and lithium are important for the telecommunication industry, manufacturing of electric vehicle batteries etc. 
• Clean energy: Critical for green technologies like semiconductors, solar panels and wind turbines etc.
• National Security and Defence: Key minerals such as bauxite, alumina, silica, etc. are strategic assets to produce armour, weaponry, and other critical military infrastructures.