Politika ozelenjavanja na Zapadnom Balkanu: finansijski putevi
Greening policy in the Western Balkans: Financial Pathways

Summary/Abstract: The topicalisation of the green economy has gained attention in the Balkan Peninsula. While other EU countries have made significant progress on various greening policy issues, the Western Balkan countries (WBCs) are moving at a slower pace. The WBCs show substantial potential; they possess the capacity for growth, and regulations regarding greening have improved considerably. However, the transition from a brown to a green economy is progressing slowly. The expansion of green transition finance concepts, through measures such as green foreign direct investment, development aid, green loans, and green bonds, has revealed many limitations of traditional investment approaches. By analysing the current situation in EU-Serbia relations and Serbia’s capacities and potential concerning greening policy, we conduct an analysis that draws analogies from various aspects of the effectiveness of green investments in the economic sectors. The study identifies the role of financing in the economic growth of the WBCs. It also examines the role of EU development assistance, the main trading partner of the Western Balkans region (WBR). This research provides concrete recommendations for economic policymakers to enhance the efficiency of financing the green transition, thereby contributing to the development and modernisation of the WBCs.

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