Enhancing the resilience of Serbian forests to ensure energy security of the most vulnerable while contributing to their livelihoods and carbon sequestration (FOREST Invest)
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heatwaves, and climatic hazards are degrading Serbia's forests, compounded by unsustainable fuelwood extraction and outdated forest management practices.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.
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
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Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing15% disbursed
Instrument | Amount |
---|---|
Grant | USD 25,000,000 |
Total GCF Financing |
---|
USD 25,000,000 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | In-kind | USD 53,455,376 |
Co-Financing | In-kind | USD 4,222,108 |
Co-Financing | In-kind | USD 659,147 |
Co-Financing | Grant | USD 474,950 |
Total Co-Financing |
---|
USD 58,811,581 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
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)
Send e-mail
Entity

Food and Agriculture Organization of the United Nations
Deputy Director-General
More contacts
National Designated Authority
Ministry of Environmental Protection
Assistant Minister
Namanjina 22-26, Belgrad, Serbia
Documents
Title | Type | Date |
---|---|---|
Environmental and social safeguards (ESS) report for 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) | Environmental and Social Safeguards report | 17 Jan 2025 |
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.