European nations pressed former East bloc neighbors to help create a multibillion-euro fund for poor countries suffering the most from global warming.
AP/Nanet Poulsen
AP/Nanet Poulsen
At the European Union summit Thursday, European governments committed a total of 2.6 billion US dollars (1.8 billion euro) a year for 2010-2012 for the short-term climate fund, or a three-year total of 7.9 billion dollars (5.4 billion euro), according to a French official who spoke on condition of anonymity because the discussions will continue Friday.
That official said the figure so far falls short of EU target of 3.2 billion dollars (2.2 billion euro) a year for the period.
But the less-affluent former East bloc countries are reluctant to participate in costly emissions cuts or to give to a fund intended to help developing nations.
Developing nations are pressing the US, Europeans, Japanese and others for more upfront money and for assurances about long-term financing.
Industrialized countries so far are talking only about three years of funding at 10 billion dollars a year. Much of that would go toward training, planning and getting a fix on needs.
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AP at Yahoo News: Nations seek climate financing for poor countries
That official said the figure so far falls short of EU target of 3.2 billion dollars (2.2 billion euro) a year for the period.
But the less-affluent former East bloc countries are reluctant to participate in costly emissions cuts or to give to a fund intended to help developing nations.
Developing nations are pressing the US, Europeans, Japanese and others for more upfront money and for assurances about long-term financing.
Industrialized countries so far are talking only about three years of funding at 10 billion dollars a year. Much of that would go toward training, planning and getting a fix on needs.
Read more
AP at Yahoo News: Nations seek climate financing for poor countries
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