The Copenhagen Climate Change Summit´s host nation, Denmark, threw the first concrete financial aid figures on the negotiating table on Wednesday that could help countries such as Costa Rica protect their environment.
Pending a firm global deal and promises of fair aid numbers from other developed nations, the Danish government announced it will commit €160 million (roughly $235 million) between 2010 and 2012 to help developing countries, such as Costa Rica, improve their capacities to fight climate change, according to a news release on the Danish Foreign Affairs Ministry´s Web site.
The amount represents a fraction of estimated $10 billion that developing countries will need between 2010 and 2012, according to European Union representatives, in order to jumpstart emissions mitigation projects.
Costa Rican negotiators headed to Copenhagen this week hoping to secure financial aid for the country and its developing Central American neighbors.
Delegates estimate that Costa Rica will need approximately $7 billion, a big chunk of which will have to come in the form of foreign financial aid, to execute projects that will significantly reduce national greenhouse gas emissions.