G-7 to set up fund to aid developing nations strengthen supply chains
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The Group of Seven nations will create a fund to help developing nations build robust supply chains for products needed for decarbonization, sources familiar with the plan said Friday.
The fund will be used to help developing and emerging nations in the so-called Global South boost their capacity to process resources and produce items needed to reduce carbon dioxide emissions, such as solar panels and electric vehicle batteries. Japan is planning to contribute $5 million to the envisaged fund at the World Bank, according to the sources.
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