Global leaders worked tirelessly into the early hours of Friday to meet a deadline for reaching an agreement on reducing emissions and supporting developing nations in dealing with the costly effects of climate change. The United States' announcement of a $100 billion fund to assist poorer countries in adapting to climate change and addressing issues like crop failure and water scarcity helped break a stalemate in the negotiations involving 193 nations. A group of influential leaders engaged in productive discussions overnight to move the climate talks forward, according to Danish Prime Minister Lars Lokke Rasmussen. Despite concerns about potential setbacks, leaders came together for a gala dinner hosted by Denmark's Queen Margrethe at Christiansborg Palace in Copenhagen to kick off the final push towards a deal. French President Nicolas Sarkozy stated that time is not on their side and they should stop pretending. He warned that a failure in Copenhagen would be a disaster for everyone. Police reported that 28 people were arrested in connection with a Greenpeace protest near the palace, with three managing to slip past security. Activists arrived before U.S. Secretary of State Hillary Clinton and walked up the red carpet with signs urging leaders to take action. U.S. President Barack Obama is set to arrive on Friday and is likely to be asked to commit to more significant reductions in emissions. European Commission President Jose Manuel Barroso expressed his anticipation for a significant announcement from President Obama during the upcoming climate summit. He emphasized that Obama's visit is not just to repeat what is already in the draft legislation, particularly the climate bill awaiting approval from the U.S. Senate. Barroso mentioned Obama's planned meeting with Chinese Premier Wen Jiabao during the summit, indicating progress in discussions between the United States and China on key issues, such as monitoring emissions reductions. Despite this progress, officials could not confirm whether a deal would be reached once Obama arrives at the summit. China has not agreed to these requirements. The United States has made a promising commitment to support a $100 billion annual fund for poor nations starting in 2020, which would exceed current aid flows to poor nations and align with the requests of African nations. U.N. Secretary-General Ban Ki-moon described the U.S. pledge as very encouraging. However, a U.S. official indicated that President Obama is unlikely to provide more specific details about U.S. funding commitments. An agreement on financial matters is just one piece of the puzzle, which also involves saving rainforests, increasing carbon markets, and strengthening global carbon emission regulations. German Chancellor Angela Merkel stated that if everyone contributes a little more, progress can be made. The European Union is open to doing more, but is not willing to act independently. However, any agreement must be unanimously approved. Some small island nations and African countries, which are most at risk from climate change, have stated they will not support a weak agreement. Prime Minister Apisai Ielemia of Tuvalu emphasized the importance of the ongoing talks in Bali, Indonesia, stating that they are crucial for the survival of his nation. The draft negotiations aim to achieve goals such as reducing greenhouse gas emissions worldwide by 2050 and requiring developed countries to cut their emissions by up to 40 percent by 2020. Kim Carstensen, leader of the WWF environmental group, noted progress in reaching a compromise, especially due to the U.S. offering financial support. Earlier, there was little hope for a strong U.N. climate agreement as China and the U.S. were blamed for the deadlock. Ministers and leaders emphasized the need for renewed urgency, stressing that the success of Copenhagen is crucial. China's climate change ambassador Yu Qingtai stated that Copenhagen cannot afford to fail.