A new draft of a deal on money to curb and adapt to climate change released Friday afternoon at the United Nations climate summit pledged $250 billion annually by 2035 from wealthy countries to poorer

Any amount agreed upon at COP negotiations is typically seen as a "core" sum, intended to be mobilized or leveraged for larger climate investments. However, much of this financing is expected to come in the form of loans, further burdening nations already grappling with heavy debt.

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.