29.05.2009 - Rich nations promise $100 billion per year aid to poor nations in climate fight
From Reuters: During one of the many meetings preceding the Copenhagen round of talks scheduled to take place in December, the developed countries have tentatively agreed on a plan to collectively raise $100 billion per year in order to provide financial support to the poor and developing nations as they try to make the transition from fossil fuels to clean energy sources. Funding for the international adaptation fund has been one of the contentious issues during the negotiations for the next climate treaty and the global recession has made it even worse with many countries showing reluctance in providing monetary support to developing and poor countries citing problems like unemployment and dropping GDP back home.......Full Article: Source
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