BAKU, November 23. /TASS/. Azerbaijan chairing the 29th UN Climate Change Conference (COP29) has presented an updated version of the suggested agreement on financing the climate action measures, which stipulates the allocation of at least $250 bln per year for those purposes by 2035, according to the statement from the COP29 presidency.

Considering the proposals of developed countries, the decision suggests an extension in financing from the current $100 bln per year mobilized with developed country parties taking the lead, "to $250 bln per year by 2035 for developing country parties for climate action," the statement said.

The document also calls on all actors "to work together to enable the scaling up of financing to developing country parties for climate action from all public and private sources to at least $1.3 trillion per year by 2035."

The 29th UN Climate Change Conference has been held in Baku since November 11. It was to end on November 22, though it will continue its work on Saturday as well as the participants have not yet agreed on the New Collective Quantified Goal (NCQG) on Climate Finance, which is the key expectation from the climate summit.