Tough negotiations continue at the UN climate change conference in Azerbaijan over funds to be provided to developing countries tackling climate change. Some nations have expressed concerns that climate financing will aggravate their debt burden.

Negotiators at the COP29 conference in Baku are working to set new funding targets to support developing nations.

Fund raising means are also among the core topics at the conference.

Advanced countries are calling for contributions from emerging economies, international financial institutions and the private sector to expand funding sources.

Developing nations are voicing concerns over growing debt servicing costs due to increased loans.

Colombian Minister of Environment and Sustainable Development Susana Muhamad said, "We cannot take more debt."

Palau President Surangel Whipps Jr. called for climate finance to be easily accessible and sufficient to meet the "adaptation, mitigation and loss and damage needs."

Lead Negotiator of Azerbaijan Yalchin Rafiyev said on Tuesday that negotiators are "working towards producing a first iteration of a full draft text" by Wednesday evening.