MARRAKESH, Morocco, Oct 11 (Reuters) – Japan, the World Bank and several partner countries on Wednesday launched a $40 million partnership plan to diversify supply chains for clean energy products.
Japan’s Ministry of Finance and the World Bank said in a statement that the plan is a financial package to help emerging market and developing countries expand production of clean energy products and “increase their participation in global mineral value chains.” It said it would provide physical and technical assistance.
Japan plans to contribute a total of $25 million to the scheme, Finance Minister Shunichi Suzuki said at the scheme’s launch ceremony, held on the sidelines of a meeting of the International Monetary Fund and the World Bank in Marrakech. .
Combined with contributions from Canada, Italy, South Korea and the United Kingdom, the total initial contribution will be more than $40 million, the statement said.
Japan, which holds this year’s G7 Presidency, has announced the “Strengthening of Resilient and Inclusive Supply Chains” initiative, reflecting concerns of some developed countries over dependence on China for key mineral resources and goods related to energy security. We have launched a program called “Partnerships for Sustainable Development” (RISE). .
Interview: Leica Kihara, Editing: Louise Heavens, Chizu Nomiyama
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