EU on Track With 7.2 Billion Euros Pledged in Climate Aid, Draft Shows

The European Union is on track to meet its pledge of providing 7.2 billion euros ($9.9 billion) in climate-related aid for poor nations from 2010 to 2012 after mobilizing 4.68 billion euros so far, according to the draft conclusions of a finance ministers meeting today.

“Despite the difficult economic situation and strong budgetary constraints, all 27 member states and the European Commission are contributing to this funding,” according to the draft from today’s meeting in Brussels, which was obtained by Bloomberg News.

The EU has committed 2.34 billion euros this year in the so-called fast start finance, according to preliminary data cited in the draft EU document. Member states’ contributions are voluntary.

To contact the reporters on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net.

To contact the editors responsible for this story: Stephen Voss at sev@bloomberg.net

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