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MARRAKECH, Morocco, Oct 11 - Japan, the World Bank and several partner countries on Wednesday launched a $40 million partnership scheme to diversify supply chains for clean energy products.
The scheme will offer financial and technical support to help emerging market and developing countries boost production of clean energy goods and"increase their participation in global mineral value chains," Japan's Ministry of Finance and the World Bank said in a statement. Japan plans to contribute a total of $25 million to the scheme, Finance Minister Shunichi Suzuki said in a ceremony on the scheme's launch held on the sidelines of the International Monetary Fund and World Bank meetings in Marrakech.
Along with contributions from Canada, Italy, South Korea and the United Kingdom, the total initial contribution will be more than $40 million, according to the statement. Japan, as this year's G7 chair, has initiated the scheme, named"Partnership for Resilient and Inclusive Suppy-chain Enhancement" , reflecting concern among some advanced nations over their reliance on China for key mineral resources and goods related to energy security.
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