Italy's Prime Minister Giorgia Meloni addresses her speech during the question time at the upper house of parliament in Rome, Italy November 23, 2023.
REUTERS/Remo Casilli Acquire Licensing RightsROME, Dec 1 (Reuters) - Italy will provide 100 million euros ($108.91 million) to a new fund to help poor countries cope with "loss and damage" due to climate change, Prime Minister Giorgia Meloni said on Friday, adding she would invest 70% of her 4.2-billion euro Climate Fund in Africa.
"We are contributing to the loss and damage fund with 100 million euros to help achieve the goals of this COP28," she told an event at the COP28 climate conference in Dubai.
Italy's Climate Fund is part of a commitment by rich countries to funnel at least $100 billion a year in developing economies through green transition projects under the form of state guarantees, loans and equity investments.
In late 2021, under Meloni's predecessor Mario Draghi, Italy set aside 840 million euros per year between 2022 and 2026 for the programme plus an additional annual endowment of 40 million euros starting from 2027.
Giorgia Meloni, Remo Casilli, Rome, Mario Draghi, Gilberto Pichetto Fratin, William Maclean
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