Poorest need $1 bln for urgent climate projects

By Megan Rowling

POZNAN, Poland (Reuters) - Rich nations will be asked to contribute $1 billion to a fund to help the poorest countries implement urgent projects to adapt to climate change, a top official said on Wednesday.

Boni Biagini, who runs the Least Developed Countries Fund (LDCF) which was set up under U.N. auspices in 2001, said funds would be raised based on an evaluation of plans from 38 of the world's poorest countries.

"They are pretty satisfied about this amount. They say $2 billion would be better, but let's start with $1 billion at least and of course scale up," she told Reuters on the sidelines of U.N. climate change talks in Poznan, Poland.

Ten more countries are still preparing programs of action to adapt to the impacts of global warming.

The LDCF was established under the United Nations Framework Convention on Climate Change (UNFCCC) and is managed by the Global Environment Facility (GEF), a major international funder of environmental projects.

So far, rich countries have pledged only $172 million to the fund, with Germany, Denmark, Britain and the Netherlands contributing the most.

The United States has yet to give any money, but Biagini said she hoped that would change under the incoming administration of President-elect Barack Obama.

"It is the largest economy in the world and this is a fund for the poor ... so I am making my plea to the United States of America to give a contribution to the poor," she said.