BAKU, November 24. /TASS/. The Loss and Damage Fund will be able to start financing projects to aid developing countries in coping with climate chance implications, with the relevant agreements signed at the meeting of global leaders at the 29th Conference of the Parties (COP29) to the UN Framework Convention on Climate Change in Baku.

"Within the framework of COP29, several important agreements related to the Loss and Damage Fund were signed," the COP29 Presidency said on its website. "With these achievements, the Loss and Damage Fund will be able to start financing projects beginning in 2025. This marks yet another success of Azerbaijan's COP29 Presidency," the statement reads.

The total pledged financial support for the Fund is over $731.15 mln to date.

The Fund was established in 2022 at the COP27 climatic summit to help developing countries that are the most exposed to consequences of climate changes. The decision to operationalize the Fund was made at the COP28.