If the figures are accepted, hundreds of billions of dollars could be heading towards poorer countries a decade or two from now, helping them switch to cleaner technology and shore up defences against worsening floods, drought, storms and rising seas.

Rich countries have coalesced around figures for short- and long-term financing and for encouraging countries with tropical forests to preserve these natural assets rather then fell them.

US Secretary of State Hillary Clinton slightly brightened a grim mood at the talks on Friday by announcing the United States would contribute towards a long-term fund worth 100 billion dollars a year by 2020.

But the major bloc of developing countries said the sum still fell short of what was needed and cautioned that important questions, such as the administration of the funds, remained to be answered.

Clinton tied the money to guarantees from China, India and Brazil -- without naming them -- for ambitious voluntary measures on curbing greenhouse-gas emissions that would be tied to tough scrutiny provisions.

The contribution would be "in the context of a strong accord in which all major economies stand behind meaningful mitigation actions and provide full transparency as to their implementation," Clinton told a press conference.

In such circumstances, "the United States is prepared to work with other countries toward a goal of jointly mobilizing 100 billion dollars a year by 2020 to address the climate change needs," she said.

Aid groups hailed the announcement.

"The US delegation came to Copenhagen with no money and poor targets, and these talks have gone nowhere," said Ricken Patel, executive director of global campaign network Avaaz.org.

"Today, they've announced a decent commitment on money. If they move on targets as well, we could still see a breakthrough in Copenhagen."

Britain's climate minister, Ed Miliband, said the initiative was "very, very significant."

"We acknowledge this is a good signal but we equally do say that it still is insufficient," said Lumumba Stanislas Dia-ping of Sudan, chairing the Group of 77 and China bloc of 130 poor nations.

The figure of 100 billion is aligned with figures for long-term funding sketched by the European Union, which has yet to announce what share it would pay.

As for short-term finance, 10 billion dollars a year for 2010-2012 is envisaged as a de-facto sweetener for an overall deal at Copenhagen.

That too is making headway.

Japan on Wednesday said it would offer 1.75 trillion yen (19.5 billion dollars) to the three-year scheme, topping an EU pledge of 7.2 billion euros (10.6 billion dollars).

The United States has said it is ready to pay a "fair share" but President Barack Obama -- due in Copenhagen on Friday -- has not yet announced any figure.

A senior US official said on Thursday he did not expect Obama to unveil more "specific commitments on financing."

Analysts welcomed that figures are at last being put on the table, but remained cautious given the many hurdles ahead before the conference's close, with a scheduled epoch-making accord on tackling climate change.

One is whether developing countries would accept the funding as sufficient and agree to the quid pro quo on emissions scrutiny.

Another is what portion of the funds will come from public sources or market mechanisms under the future climate treaty -- and whether the pledges entail new money or amount to greenwash, a reshuffling of aid budgets.

"This funding only flows as part of a global plan agreed to by all to solve this problem," noted Carl Pope, executive director of a US green group, the Sierra Club.

"It is dangerous to rely on market forces to pay for flood defences and drought resistant seeds, as there are no guarantees that the money will reach the right people, in the right places, at right time," noted Oxfam's senior climate advisor, Robert Bailey.

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