The presidents of France and Brazil called for increased aid from wealthier countries to help developing nations combat global warming, in order to achieve a climate agreement in Copenhagen. Brazilian President Luiz Inacio Lula da Silva emphasized the need for support for poor countries to address climate change and meet their targets, while also maintaining their sovereignty. Brazil has established an investment fund for conservation in the Amazon rainforest, with no influence from donor countries. Norway has given the most donations up to now. Progress in resolving how wealthy nations can assist poorer nations in combating global warming has been minimal. French President Nicolas Sarkozy emphasized the importance of financial assistance from developed countries to developing countries at the Copenhagen conference. He stressed the urgency of this support. Sarkozy expressed approval of the emissions reduction target set by Washington for 2020. The European Union estimates it will cost around $100 billion annually to assist developing nations in combatting global warming. Developing countries argue that wealthy nations should contribute between 0.5 percent and 1 percent of their GDP. Brazil has committed to reducing its greenhouse gas emissions by up to 38.9 percent by 2020 and is seeking a larger role in climate negotiations. However, only one other South American president, Bharrat Jagdeo of Guyana, participated in the Manaus summit alongside Brazil.