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Nations of the South need financial aid to deal with climate change

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Nations of the South need financial aid to deal with climate change

Sharm El Sheikh, Egypt, Nov 13 (Prensa Latina) The coordinator of the Climate Summit (COP27), Yasmine Fouad, warned on Sunday that developing countries will need up to 300 billion dollars a year to face the scourge by 2030 and 500 billion by the middle of the century.

In statements to the official news agency MENA, the Egyptian Minister of the Environment also stressed that the promises made by rich nations to deliver 100 billion dollars a year have never been fulfilled, although she pointed out that this amount is insufficient.

The Conference of the Parties to the United Nations Framework Convention on Climate Change opened its doors on November 8 in this Egyptian resort, located in the northeastern Sinai Peninsula.

The COP27 took a break on Sunday to resume its activities tomorrow in the midst of difficult negotiations on several points, especially on compensation for damages to poor countries.

The first week of the event was marked by the high-level meeting, attended by about 120 heads of state and government, and contacts to discuss technical specificities, which will now give way to political negotiations.

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