The presidents of France and Brazil emphasized the importance of rich countries providing increased aid to developing nations in order to effectively combat global warming and reach a climate agreement in Copenhagen. Brazilian President Luiz Inacio Lula da Silva, speaking at a climate summit in Manaus, acknowledged progress made by China and the United States in reducing greenhouse gas emissions but stressed the need for more assistance for developing countries to address climate change and achieve their goals. Lula highlighted the importance of supporting the poor nations without compromising their sovereignty, pointing to Brazil's investment fund for conservation in the Amazon rainforest as an example of this approach. Norway has so far contributed the most in donations. Climate negotiators have not made much progress in addressing how wealthy countries can assist poorer nations in combating global warming. French President Nicolas Sarkozy emphasized the importance of providing financial assistance from developed countries to developing ones at the Copenhagen summit, stating that action needs to be taken immediately. Sarkozy expressed support for Washington's target to reduce emissions by 17 percent by 2020. The European Union estimates the cost to help developing nations combat global warming at around $100 billion annually. Developing countries believe 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 36.1 to 38.9 percent by 2020 and is seeking a larger role in climate negotiations. However, only one other South American leader, Guyana's Bharrat Jagdeo, attended the Manaus summit to discuss a united stance on climate issues for the upcoming Copenhagen conference.