An agreement has been reached on increasing climate finance obligation from USD 75 bln. to 170 bln. on annual basis by Article 6.4 of Paris Treaty, as well as multilateral financial institutions during negotiation process, APA reports.
Information in this regard has been provided at meeting between Minister of Foreign Affairs of the Republic of Azerbaijan Jeyhun Bayramov and Anne Beathe Tvinnereim, Minister of International Development of the Kingdom of Norway, who is on a visit to Azerbaijan to attend the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change.