Ahead of the UN Climate Change Conference (COP31) in Antalya, Türkiye, the MIKTA group of nations is pressing for wider access to climate finance for Nigeria and other developing countries, with the aim of turning commitments into concrete action.
The group wants approval processes eased and partnerships expanded so pledges reach communities already hit by drought, floods and erosion.
MIKTA is made up of Mexico, Indonesia, the Republic of Korea, Türkiye and Australia.
Australia is presiding over the negotiations and working closely with host nation Türkiye. A central priority of the summit is to fix a long-standing problem: making climate finance genuinely accessible to the developing nations that need it most.
“Not an abstract future threat”
MIKTA members stressed that for Small Island Developing States (SIDS), Least Developed Countries (LDCs) and climate-vulnerable regions across Africa, climate change is not an abstract future threat.
They said communities in countries such as Nigeria and Indonesia are already living with severe droughts, desertification, coastal erosion and flooding. Leaders said protecting these populations requires matching environmental ambition with immediate, practical support.
Why developing countries struggle to access funds
At recent high-level dialogues, representatives of MIKTA and partner nations said a sustainable future demands an overhaul of the financial architecture. They identified these obstacles facing developing countries:
Complex application procedures and fragmented funding systems
Heavy debt pressures, limited fiscal space and high costs of capital
Strict reporting requirements and delayed disbursements
A new action plan seeks to address these through simpler approval processes, targeted capacity-building and stronger public-private partnerships. The aim is to scale up investment in renewable energy, resilient infrastructure and ocean conservation.
Explainer: What is COP financing?
COP financing refers to global commitments made at UN Climate Change Conferences, including COP28, COP29 and COP30, to fund green growth, adaptation, and loss and damage in developing countries.
The core goal is to mobilise billions of dollars. At COP29, countries agreed to the New Collective Quantified Goal, which targets $300 billion a year by 2035 to support climate resilience.
Instruments include grant-based funds, multilateral climate funds such as the Green Climate Fund, debt-for-nature swaps and carbon markets.
Road to Antalya
Leaders say broad cross-regional collaboration, uniting voices from Africa, the Pacific and beyond, is essential as preparations continue. By closing the gap between international pledges and on-the-ground delivery, COP31 aims to make climate finance a practical instrument for prosperity, resilience and survival.
