Increasing national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks

This report is a Readiness support proposal submitted by the Republic of Serbia to the Green Climate Fund (GCF). The proposal seeks USD 322,450 over 12 months to increase national capacity for climate change adaptation. The project is to be implemented by the Development Fund of the Autonomous Province of Vojvodina LLC Novi Sad (DFAPV), focusing on enhancing financial institutions, improving access to localized climate information, and developing climate-smart investment frameworks, specifically within the agriculture and food industry sectors.

• The Republic of Serbia faces significant climate vulnerabilities, with temperature increases averaging "0.3°C/decade" between 1960 and 2012. Projections for 2071-2100 suggest a decrease in precipitation of up to "30% in the summer season across almost the whole territory of Serbia".
• Climate-related damages in Serbia were severe between 2000 and 2015, exceeding "USD 6 billion", with over "70% of losses" attributed to high temperatures and drought. Additionally, 2014 floods required an estimated "USD 1.8 billion" for recovery.
• Serbia's climate policy framework is hindered by "complex political circumstances", leaving critical building blocks "under construction", including the revision of INDCs, the approval of the Climate Law and Low Carbon Development Strategy, and the development of a National Adaptation Plan.
• The proposal identifies a significant financing gap, estimating that measures in the Draft Low Carbon Development Strategy require additional investments of "USD 7,6 Billion for the period 2020-2030".
• The primary goal of the project is to "increase national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks", with a long-term aim of supporting a resilient economy aligned with the "1.5° C objective".
• Component 1 focuses on the Development Fund of the Autonomous Province of Vojvodina (DFAPV), aiming to align its corporate policy with "GCF basic fiduciary principles, environmental and social safeguards and gender considerations" and achieve "formal certification of ISO 14001".
• Component 2 involves the creation of a private sector engagement platform called "Green Navigator" to address "low environmental awareness, insufficient environmental education and inadequate public participation in decision making".
• Component 3 aims to develop a "Climate Smart Agriculture / Food Industry Investment Plan" and "2 bankable concept notes" to bridge the gap between financial institutions and the private sector in scaling up low-carbon financing.
• The total requested amount for the 12-month implementation period is "USD 322,450".
• The project identifies several risks, including the "intensification of ongoing pandemic", "Procurement delays", and "lack of private sector commitment due to the limited knowledge of global climate agenda".

APA

Green Climate Fund (2020). Increasing national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks. https://www.greenclimate.fund/sites/default/files/document/serbia-dfvf.pdf

Chicago

Green Climate Fund. Increasing national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks. 2020. https://www.greenclimate.fund/sites/default/files/document/serbia-dfvf.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Increasing national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks |date=27 November 2020 |url=https://www.greenclimate.fund/sites/default/files/document/serbia-dfvf.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2020increasing, author = {{Green Climate Fund}}, title = {{Increasing national capacity to adapt to climate change through enhanced finance institutions, access to localized climate information and improved climate smart investment frameworks}}, institution = {Green Climate Fund}, year = {2020}, month = nov, url = {https://www.greenclimate.fund/sites/default/files/document/serbia-dfvf.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }