According to Japan's Kyodo News Agency, the Group of Seven (G7) has coordinated new initiatives to provide support to emerging markets and developing countries known as the "Global South" and plans to create a new system within the World Bank aimed at strengthening supply chains related to renewable energy and pure electric vehicles (EV). The main content is to achieve that commodities up to production can be managed by developing countries themselves, rather than just resource extraction. The G7 is also exploring funding for the World Bank.