Monday, 14 December 2009

EU summit struggles to raise climate aid cash

European nations are set to pledge around six billion euros to help poor nations tackle global warming at a summit in Brussels on 11th December, but the funding will be provided on a voluntary basis as a result of worrying debt problems in countries like Greece. Fredrik Reinfeldt, the Swedish prime minister and current holder of the EU's six-month rotating residency, said he was confident that the sums would be found. More than half of the EU's 27 member states have already promised so-called 'fast-start' funding for the next three years until 2013, he explained. But the Swedish premier warned that contributions would only be made on a voluntary basis, as countries are in very different budgetary positions. "We have EU member states with International Monetary Fund programmes, with huge budget deficits. This is on a voluntary basis, and already more than half of the states have provided figures", Reinfeltd told a press conference in Brussels on the 10th December.

Source: Euractiv