Major industrialised countries are expected to create a multibillion-dollar fund later this year to help developing countries cut greenhouse gas emissions, World Bank President Robert Zoellick was quoted as saying.
In an interview with Japan's Asahi newspaper, Mr Zoellick said the fund would likely be finalised at the Group of Eight summit to be held on Japan's northern island of Hokkaido between July 7 and 9.
"(The fund) will be an important contribution because the climate change issue is one where we need to support UN negotiations (on a framework to succeed the Kyoto Protocol)," Mr Zoellick said. Quoting unspecified sources, Asahi said more than 10 countries were expected to set aside about €3.5 billion for the fund.
Environment ministers from the G8 rich nations agreed earlier this week that ensuring funds to help developing countries adapt to climate change and cut greenhouse gas emissions was vital. Tokyo and Washington called on other donor countries to join a fund they want to set up.
Apart from the US, Britain and Japan, Mr Zoellick was quoted as saying that he would expect Australia, Canada and some European countries to take part in the scheme.
"I can't say today exact sums or exact countries, but the signs are getting positive," Mr Zoellick was quoted as saying.
The US and Britain pledged to contribute €1.2 billion and €1 billion respectively, Asahi reported. Tokyo was expected to contribute more than €611 million, it added.
The US, Britain and Japan expect the new financing mechanism to encourage developing countries such as India and China to take part in UN negotiations on the post-Kyoto Protocol framework, Asahi reported.
About 190 nations have agreed to negotiate by the end of next year a successor treaty to the Kyoto Protocol, which binds 37 advanced nations to cut emissions by an average of five per cent below 1990 levels by 2008-2012.
But wide gaps exist inside the G8 and between rich and poorer nations over how to share the burden for fighting the climate change that causes droughts, rising seas and more severe storms.