Countries agreed on a deal to inject at least $300 billion annually in humanity's fight against climate change, aimed at helping poor nations cope with the ravages of global warming at tense United Nations climate talks in the city where industry first tapped oil.

A final text was released early Sunday following several sleepless nights for negotiators, with tensions boiling over as small islands states and the world's poorest countries walked out of one meeting.

The COP29 talks have laid bare the divisions between wealthy governments and developing nations reeling from the costs of storms, floods and droughts fueled by climate change.

A draft deal at the U.N. Climate Change Conference calls for wealthy nations to give developing ones $250 billion a year starting in 2035.

The European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday.

The COP29 climate summit ran into overtime on Friday, after a draft deal that proposed developed nations take the lead in providing $250 billion in annual climate finance by 2035 drew criticism from all sides.

Fierce bargaining at UN climate talks in Azerbaijan dragged into Saturday after a $250 billion a year offer from rich nations was flatly refused by developing countries hardest hit by

The European Union, U.S. and other wealthy countries at the COP29 summit have agreed to raise their offer to $300 billion per year by 2035 to help developing nations deal with climate change, sources told Reuters on Saturday,