Analysis-Impasse broken on climate fund before COP28 but tough road ahead

FILE PHOTO: 'Cop28 UAE' logo is displayed on the screen during the opening ceremony of Abu Dhabi Sustainability Week (ADSW) under the theme of 'United on Climate Action Toward COP28', in Abu Dhabi, UAE, January 16, 2023. REUTERS/Rula Rouhana/File Photo

(Reuters) - Final talks over the weekend to agree a proposal for a new climate disaster fund averted a deadlock ahead of the U.N.'s COP28 climate summit later this month, but cracked open tough new questions about who will pay and how soon.

The fifth meeting of a 24-member U.N. committee tasked with designing the fund concluded in Abu Dhabi over the weekend, with support for a "take-it-or-leave-it" deal that would make the World Bank the interim home of the fund and encourage - but not oblige - all countries to contribute to it.