By Kate Abnett, Valerie Volcovici and Nailia Bagirova BAKU (Reuters) -Developed nations should pay $300 billion a year by 2035 to help poorer countries deal with climate change, according to a new draft deal from U.

The COP29 summit in Azerbaijan is being extended as difficult negotiations over climate finance continue. The talks in Baku had been scheduled to end at 6 pm (1400 GMT) on Friday. Financial pledges to poorer countries to help them cut emissions have been at the centre of intense discussions,

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.

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