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COP28 formally approves climate disaster fund arrangements

DUBAI, Nov 30 (Reuters) - Countries at the U.N. COP28 climate summit on Thursday formally approved a deal on a new climate disaster fund.

The deal was adopted following the COP28 opening ceremony, drawing a standing ovation from delegates.

Representatives from developed and developing countries painstakingly crafted the agreement during negotiations this year. It will launch a fund to help vulnerable nations cope with the cost of climate-driven damage from drought, floods and rising seas.

(Reporting by William James, editing by Katy Daigle)