Countries agreed to a hard-fought COP29 deal to provide $300 billion in annual climate finance by 2035. But while some delegates reacted to the agreement's early Sunday with a standing ovation, others voiced anger and lambasted wealthy nations for not doing more.

Nearly 200 countries agreed to more than triple the amount of money available to help developing countries confront rapidly warming temperatures.

BAKU - Developed nations should pay US$300 billion (S$404 billion) a year by 2035 to help poorer countries deal with climate change, according to a new draft deal from UN climate talks published early on Nov 24, after an earlier target of US$250 billion was rejected.

Country delegates at COP29 met for a plenary Saturday night to agree on some aspects of this year's negotiations, while their teams continued to work on the summit's centerpiece topic: agreeing a new target for annual climate finance.

Brad Plumer is reporting from Azerbaijan, where the annual U.N. climate summit got underway this week. This week, diplomats and heads of state from nearly 200 countries gathered in Baku, the capital of Azerbaijan, for COP29, the climate summit held by the United Nations.

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 European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday.

By Kate Abnett, Valerie Volcovici and Karin Strohecker BAKU (Reuters) -Countries agreed on Sunday to an annual finance target of $300 billion to help poorer countries deal with the impacts of climate change,

UN climate talks looked set to overrun into the weekend as a deep gulf formed between richer and poorer countries over cash to help those most vulnerable in a warming world. Wealthier nations offered to more than double to $250bn a year the cash they give developing countries annually to fight climate change.