Representatives of the Green Climate Fund present possibilities for financing projects in the area of climate change adaptation and mitigation

Belgrade, 23 May 2019 – The Ministry of Agriculture, Forestry and Water Management and the UN Environment held the second in a series of stakeholders’ consultation meetings within the project “Developing the capacities of the Republic of Serbia for an effective engagement with the Green Climate Fund “.

“Climate change is the biggest challenge of our time which can be only slowed down through adaptation and mitigation activities. Aknowledging that this is a country-driven process, I am pleased to see that UN Environment, as well as several other UN agencies in Serbia, support the Government of Serbia in these endeavors”, says Hans Schodder, UN Resident Coordinator a.i in Serbia.

After the first stakeholders’ consultation meeting held in March this year, which effectively marked the beginning of a process of stakeholder engagement and disclosure, the second consultation meeting presents another milestone in the process of supporting Serbia’s readiness and preparatory activities in cooperation with the Green Climate Fund.

“The Green Climate Fund presents one of the most favorable opportunities for financing activities aimed at reducing GHG emissions, but also minimizing damages and losses due to natural disasters. We see cooperation with the Fund as an excellent opportunity to transform our country’s economy into an efficient and innovative one, in accordance with the goals and priorities of the Serbian Government. Having recognized these possibilities, it is our goal to strengthen this cooperation, which we endeavor to achieve through these consultation meetings", says Bogdan Igić, State Secretary at the Ministry of Agriculture, Forestry and Water Management.

The meeting was very significant due to the participation of the Green Climate Fund (GCF) representatives who presented the GCF related possibilities and requirements for financing climate change adaptation and mitigation projects. In addition to allowing the possibility of follow up, continuous update and regular assessment of progress and exchange of good practices and challenges, the meeting is aimed at providing relevant information to all potential participants in projects funded by the GCF to ensure efficient cooperation with the Fund.

The aim of the project is to develop, in coordination with stakeholders (Government institutions, local authorities, civil society organizations, public and private companies, banks and other financial institutions, women and vulnerable groups and others), the Country Programme which identifies key national priorities for further GCF funding.

About the Green Climate Fund:

The Green Climate Fund (GCF) is an international fund established in 2010 under the United Nations Framework Convention on Climate Change (UNFCCC). By adopting the Paris Agreement under the Convention, the GCF became a key financial mechanism for implementation of the Agreement, i.e. one of the main tools for keeping global temperature rise well below 2 degrees Celsius.

The Fund promotes the implementation of activities that simultaneously contribute to the reduction of GHG emissions and increase resilience to altered climate conditions in developing countries.

The GCF funding is provided by developed countries, both from public sources and private capital.

The Fund finances projects and programs both focused on climate change mitigation (reduction of GHG emissions) and adaptation (adjustment to the altered climate conditions) that are prepared by the government, public and/or private sector. These projects and programs need to be in line with national development goals and priorities. At the same time, projects must contribute to the strategic objectives of the Fund.