By Kate Abnett, Valerie Volcovici and Nailia Bagirova BAKU (Reuters) -Wealthy countries raised their offer of climate finance to $300 billion a year at COP29 on Saturday, raising hopes of a deal with developing nations that had dismissed an earlier proposal as insufficient to address the impacts of global warming.

The draft agreement comes with many uncertainties about which nations will provide how much financing to poorer countries, especially with a new Trump era looming in the U.S.

The COP29 talks have laid bare the divisions between wealthy governments and developing nations reeling from the costs of storms, floods and droughts fueled by climate change.

The first concrete number to be discussed in the two-week conference has triggered anger among developing country delegates as falling far short.

The COP29 climate summit presidency released a draft finance deal on Friday that would have developed nations take the lead in providing $250 billion per year by 2035 to help poorer nations - a proposal that drew criticism from all sides.

A new draft proposal issued on Friday at COP29 in Azerbaijan has called for developing countries to pay $250 billion annually to climate finance poorer nations.