( CNN ) Nations working on a global treaty to combat climate change and handle its ill effects have come to a basic draft agreement at conference in Lima , Peru . The elements hammered out in two weeks by about 190 countries at the 20th Conference of Parties ( COP20 ) will serve as the basis for an international climate treaty to be signed in Paris next year , the U.N . Framework Convention on Climate Change said Sunday . That treaty , which is supposed to detail nations ' responsibilities in the fight against climate change , will come into effect in 2020 . The Lima draft announced Sunday determines that developed countries and developing nations will take on differing responsibilities in the fight against global warming `` in light of different national circumstances . '' The details of those responsibilities are to be determined later . It also calls on richer countries to help poorer ones finance their goals -- especially countries hurt most by the `` adverse effects of climate change '' that are working to mitigate that damage . Initial disagreement between nations over the distribution of responsibilities and costs had brought negotiations to a deadlock , causing the conference to be extended by two days . A handful of developed and developing countries pledged contributions to the Green Climate Fund -- designed to finance sustainable development -- boosting it to nearly $ 10.2 billion . CNN 's Christine Theodorou contributed to his report .
The draft agreement will serve as the basis for a treaty to be signed in Paris next year . Richer countries agree to foot more of the bill in the battle against climate change . Developed and developing countries will have different responsibilities .