FP260

Enhancing the resilience of Serbian forests to ensure energy security of the most vulnerable while contributing to their livelihoods and carbon sequestration (FOREST Invest)

Enhancing the resilience of Serbian forests to ensure energy security of the most vulnerable while contributing to their livelihoods and carbon sequestration (FOREST Invest)

  • Status Under implementation
  • Date approved 20 Feb 2025 at B.41
  • Est. completion 21 Feb 2032
  • ESS Category Category B

Serbia is one of the most climate-vulnerable countries in the Balkan region. Climate change impacts such as rising temperatures, heatwaves, and climatic hazards are degrading Serbia's forests, compounded by unsustainable fuelwood extraction and outdated forest management practices. These challenges undermine adaptation and mitigation efforts, exacerbate poverty, and heighten energy insecurity, particularly for rural households reliant on fuelwood for heating. Addressing these issues is critical to achieving Serbia’s low-carbon development and climate resilience goals.

This project will promote sustainable, climate-adaptive forestry by fostering public-private collaboration, strengthening forest governance, and supporting vulnerable communities.

Climate-sensitive investments will enhance forest ecosystems, bolster energy security, and reduce carbon emissions, enabling Serbia to achieve its adaptation and mitigation goals while ensuring low-carbon development and resilient livelihoods. It will also facilitate private sector engagement and finance in adaptation and mitigation investments.

Key activities include increasing Serbia's capacity to manage forests sustainably with an emphasis on forest monitoring, carbon finance, and biomass energy efficiency; enhancing energy security and livelihoods by fostering climate-resilient forestry practices that increase carbon sinks and decarbonisation opportunities; and mobilising private sector investments to promote climate-adaptive forestry and decarbonisation strategies.

Total project value

0.0

Tonnes of emissions avoided

0.0

Beneficiaries

0.0

Direct
729,064
Indirect
2,846,380
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

23 Sep 2021  •  1247 days

Concept note received

23 Sep 2021

Funding proposal received

10 Nov 2023

Cleared by GCF Secretariat

18 Nov 2024

Cleared by iTAP

17 Feb 2025

Approved

20 Feb 2025  •  2 days

Approved by GCF Board

20 Feb 2025

FAA executed

20 Feb 2025

Under implementation

21 Feb 2025  •  43 days so far

FAA effective

21 Feb 2025

Disbursement - USD 3,762,178

03 Mar 2025

To be completed

21 Feb 2032  •  2,515 days to go

One region

  • Eastern Europe

One country

USD 0.0
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large
Co-Financing53.5mIn-kindCo-Financing4.2mIn-kindCo-Financing659.1kIn-kind..GCF25.0mGrantCo-financing 70.2%GCF financing 29.8%

GCF financing15% disbursed

InstrumentAmount
GrantUSD 25,000,000
Total GCF Financing
USD 25,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingIn-kindUSD 53,455,376
Co-FinancingIn-kindUSD 4,222,108
Co-FinancingIn-kindUSD 659,147
Co-FinancingGrantUSD 474,950
Total Co-Financing
USD 58,811,581

GCF Contacts

General media inquiries

GCF Communications
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Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
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Entity

Food and Agriculture Organization of the United Nations
Ms. Elizabeth A. Bechdol
Primary

Deputy Director-General
Phone +39 06 57051800
DDG-Bechdol@fao.org
Ms. Maria Helena Semedo
Secondary

Deputy Director-General
More contacts

National Designated Authority

Serbia
Ministry of Environmental Protection
Ms Irena Vujović Primary
Minister
Namanjina 22-26, Belgrad, Serbia
Ms Sandra Dokić Primary
State Secretary
Namanjina 22-26, Belgrad, Serbia
Mr. Dusan Carkic Secondary
Assistant Minister
Namanjina 22-26, Belgrad, Serbia

News + Stories

Accelerating climate action to communities: seven new projects set for implementation

17 Mar 2025 / Seven new project agreements were signed during the Green Climate Fund’s 41st Board meeting (B.41), which took place on 17-20 February 2025. At the Fund’s first Board meeting of the year, the Board approved USD 686.8 million (USD 1.5 billion with co-financing) in GCF investment for 11 new projects in 42 countries. This brings the GCF portfolio to 297 projects in 133 countries, with a total GCF funding amount of USD 16.6 billion and USD 62.7 billion with co-financing.