BAKU, Azerbaijan, February 11. A conference on green transition financing in Serbia, co-organized by EIB Global, the United Nations Development Program (UNDP), the European Union Delegation, and Serbia’s Ministry of Environmental Protection, highlighted the need for stronger financial support for sustainable projects, Trend reports.
Speaking at the event, Damien Sorrell, Head of the EIB Regional Hub for the Western Balkans, emphasized the importance of accessible financing for Serbian companies struggling with climate risks. “Many businesses are already facing losses due to natural disasters, yet they lack the financial and technical resources to integrate climate resilience into their operations. Our support to banks under the EU for Green Agenda initiative helps turn climate-friendly ideas into bankable projects,” he said.
UNDP Serbia Resident Representative Yakup Beris stressed that sustainable financing is key to economic competitiveness, job creation, and environmental protection. “This requires cooperation between the government, financial institutions, and the private sector, which is why we have gathered today,” he noted.
Since 2022, this initiative has provided mentoring support and 4 million euros in co-financing for the implementation of innovative green projects across Serbia. The initiative has mobilized over 29 million euros for green investments, with each euro of donor funding attracting nearly 6 euros from other sources. EIB Global is also providing technical training to financial institutions to enhance their capacity to assess and finance sustainable projects in line with EU standards.
Maja Jerkić Bogosavljević, Head of ESG at UniCredit Bank Serbia, praised the training program, stating that it provided valuable insights into structuring financial products aligned with the EU Green Agenda.