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Japan raises climate aid to about $15 bln by 2012

Japan raises climate aid to about $15 bln by 2012
Wed Dec 16, 2009 4:31pm EST

* Public finance to make up $11 bln of the total

* Aimed at helping outcome of U.N. climate talks

COPENHAGEN, Dec 16 (Reuters) - Japan will raise its aid to help developing nations combat global warming to about $15 billion until 2012, assuming a strong U.N. climate deal is reached in Copenhagen, the government said on Wednesday.

"The initiative is intended to contribute to the success" of the U.N. climate summit in Copenhagen, where 110 world leaders will meet on Thursday and Friday, a statement said.

Public finance would make up about $11 billion of the total and private sources about $4 billion, it said.

"This scaled up public finance aims at enabling a quicker implementation of assistance to developing countries," it said. The aid was up from about $9 billion previously planned.

It said the cash was "on condition that successful political accord is achieved...that is a fair and effective framework with participation of all major emitting countries and agreement of their ambitious targets."

The United Nations is seeking quick-start financing totalling $10 billion a year in the three years to 2012 to help developing nations cope with climate change. It wants commitments to larger amounts towards 2020.

The European Union last week promised 7.3 billion euros ($10.63 billion) in climate finance last week for 2010-12. And on Wednesday, a group of 6 nations including the United States said they would give $3.5 billion to help slow deforestation.

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