Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > UN boosts financial support to poorer countries attending COP30 amid hotel crisis
    Headlines

    UN boosts financial support to poorer countries attending COP30 amid hotel crisis

    UN boosts financial support to poorer countries attending COP30 amid hotel crisis

    Published by Global Banking and Finance Review

    Posted on September 17, 2025

    Featured image for article about Headlines

    By Lisandra Paraguassu and Kate Abnett

    BRASILIA (Reuters) -The U.N. will give low-income countries more money to help them attend COP30, the global climate summit set to take place in Brazil this November, in view of soaring accommodation costs in the Amazonian city of Belem.

    For months, Brazil has resisted calls to move the conference out of Belem, with President Luiz Inacio Lula da Silva showing no willingness to backtrack on his promise to present the Amazon rainforest to the world at COP30.

    The U.N.'s International Civil Service Commission, which decides on the "daily subsistence allowance," has agreed to raise it for Belem, after a request from the U.N.'s climate secretariat, a spokesperson for the secretariat told Reuters.

    According to a statement released by the Brazilian COP30 presidency, the allowance has been raised to $197, from $144, for 144 developing countries. The allowance covers two or three delegates per country, and 374 delegates in total.

    The decision was announced this Wednesday during the third meeting between the UN's climate body, the UNFCCC, and representatives from Brazil to discuss how to alleviate what has become an acute accommodation crisis, with hotels charging 10 to 15 times their regular rates for the conference period. 

    Nearly every government in the world will gather at the annual U.N. summit to negotiate how to curb climate change.

    But concerns about logistics, rather than global climate policy, have dominated pre-summit meetings. Developing countries have warned that they cannot afford Belem's accommodation prices, which have soared amid the shortage of rooms.

    Brazil is racing to expand on the 18,000 hotel beds in the coastal city to host the roughly 45,000 people projected to attend COP30. It says developing countries can book more affordable accommodation at daily rates of up to $220.

    Less than two months before the conference, only 79 countries have made reservations through the official COP30 platform or through other means, and 70 are still in negotiations, according to the Brazilian government. The annual COP negotiations usually involve nearly 200 countries.

    (Reporting by Lisandra Paraguassu, in Brasilia; additional reporting by Kate Abnett, in Brussels, editing by Philippa Fletcher)

    Related Posts
    EU Commission expects to sign Mercosur agreement by end of year, spokesman says
    EU Commission expects to sign Mercosur agreement by end of year, spokesman says
    EU foreign ministers adopt sanctions targeting Russian shadow fleet, EU official says
    EU foreign ministers adopt sanctions targeting Russian shadow fleet, EU official says
    Spain fines Airbnb $75 million for listings of unlicensed rentals
    Spain fines Airbnb $75 million for listings of unlicensed rentals
    Italy's Juventus: a history of triumphs, tragedy and scandal
    Italy's Juventus: a history of triumphs, tragedy and scandal
    EU hands $84.5 million cartel fine to makers of car starter batteries
    EU hands $84.5 million cartel fine to makers of car starter batteries
    "It was dead people everywhere": Inside Australia's Hanukkah massacre
    "It was dead people everywhere": Inside Australia's Hanukkah massacre
    US demands EU exempt its gas from methane emissions law, document shows
    US demands EU exempt its gas from methane emissions law, document shows
    U.S. demands EU exempt its gas from methane emissions law, document shows
    U.S. demands EU exempt its gas from methane emissions law, document shows
    Explainer-Europe's carmakers look to overturn 2035 combustion engine ban
    Explainer-Europe's carmakers look to overturn 2035 combustion engine ban
    UK should make Jimmy Lai's release precondition to closer relations with China, says son
    UK should make Jimmy Lai's release precondition to closer relations with China, says son
    Slovak woman killed in Bondi Beach mass shooting, president says
    Slovak woman killed in Bondi Beach mass shooting, president says
    ECB: Payment fraud rises to 4.2 billion eur in 2024, strong authentication remains effective
    ECB: Payment fraud rises to 4.2 billion eur in 2024, strong authentication remains effective

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    Thousands of Romanians protest against judicial abuses

    Thousands of Romanians protest against judicial abuses

    Greece arrests five over cocaine trafficking on ship from Venezuela to Europe

    Greece arrests five over cocaine trafficking on ship from Venezuela to Europe

    Italy crafts lab-grown snacks with fruit residues, plant cells and a 3D printer

    Italy crafts lab-grown snacks with fruit residues, plant cells and a 3D printer

    Witkoff, Kushner brief EU foreign ministers on Gaza via video conference, EU official says

    Witkoff, Kushner brief EU foreign ministers on Gaza via video conference, EU official says

    Sanofi shares fall on twin trouble for experimental multiple scleroris drug

    Sanofi shares fall on twin trouble for experimental multiple scleroris drug

    Ukraine peace talks stretch into second day at start of pivotal week for Europe

    Ukraine peace talks stretch into second day at start of pivotal week for Europe

    Paris Louvre museum to stay closed all Monday due to strike, union representatives to BFM TV

    Paris Louvre museum to stay closed all Monday due to strike, union representatives to BFM TV

    German economy recorded robust start to fourth quarter, says ministry

    German economy recorded robust start to fourth quarter, says ministry

    Anti-Kremlin punk band 'Pussy Riot' designated an extremist group by Russian court

    Anti-Kremlin punk band 'Pussy Riot' designated an extremist group by Russian court

    Iranian Nobel laureate hospitalised twice after 'violent arrest', say family

    Iranian Nobel laureate hospitalised twice after 'violent arrest', say family

    German regulator orders oversight, limits on online bank N26

    German regulator orders oversight, limits on online bank N26

    China to fall out of Germany's top five export destinations for first time since 2010

    China to fall out of Germany's top five export destinations for first time since 2010

    View All Headlines Posts
    Previous Headlines PostDoctors Without Borders voices outrage over death of its nurse from Israeli airstrike
    Next Headlines PostItaly enacts AI law covering privacy, oversight and child access