Finance flows in Western Balkans energy sector

The study identifies US$3.2 billion in energy development finance for five Western Balkan countries between 2008 and 2020, noting that approximately one-third of disbursed funds supported non-renewable energy sources. While disbursement ratios exceeded the global average, the total funding remained insufficient, ranging from 0.15% to 0.62% of the average GDP for the analyzed countries. The research found no established link between the 2016 Paris Agreement and an increase in finance flows for renewable energy projects.

• Between 2008 and 2020, US$3.2 billion in energy development finance was identified across the five examined countries, with disbursement ratios exceeding the global average of 63%. Serbia received the largest share of total funding, whereas Montenegro received the highest amount per capita.
• Approximately one-third of disbursed development finance was allocated to non-renewable energy supply projects. Furthermore, Official Development Aid loans accounted for 37% (US$1.2 billion) of total funding, which contributed to higher indebtedness in the five countries.
• The total disbursed energy development finance was insufficient to meet the countries' needs, representing only between 0.15% and 0.62% of their average gross domestic product during the study period. Additionally, the analysis found no connection between the adoption of the Paris Agreement in 2016 and an increase in finance flows for renewable energy.

APA

Stockholm Environment Institute (2024). Finance flows in Western Balkans energy sector. https://www.sei.org/publications/finance-flows-in-western-balkans-energy-sector/

Chicago

Stockholm Environment Institute. Finance flows in Western Balkans energy sector. 2024. https://www.sei.org/publications/finance-flows-in-western-balkans-energy-sector/.

Wikipedia

{{cite report |author=Stockholm Environment Institute |title=Finance flows in Western Balkans energy sector |date=3 January 2024 |url=https://www.sei.org/publications/finance-flows-in-western-balkans-energy-sector/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{stockholmenvironmentinstitute2024finance, author = {{Stockholm Environment Institute}}, title = {{Finance flows in Western Balkans energy sector}}, institution = {Stockholm Environment Institute}, year = {2024}, month = jan, url = {https://www.sei.org/publications/finance-flows-in-western-balkans-energy-sector/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }