COP27 host Egypt aims to share climate finance model

FILE PHOTO: Egyptian Minister for International Cooperation, Rania al-Mashat speaks during an interview with Reuters in Cairo, Egypt January 24, 2021. Picture taken January 24, 2021. REUTERS/Sherif Fahmy

SHARM EL-SHEIKH, Egypt (Reuters) - COP27 host Egypt has secured nearly $10 billion in funding in ways it hopes can provide a template for other developing nations to obtain climate-related finance, its international cooperation minister said.

Finance is one of the most contentious issues at climate negotiations as poorer countries demand rich nations pay a larger share of the cost of dealing with a warmer planet.