Finance flows in Western Balkans energy sector

This research paper analyzes development finance flows for renewable and non-renewable energy in five Western Balkan countries from 2008 to 2020, identifying a total of US$3.2 billion in funding and noting that a significant portion supported non-renewable energy sources.

• Between 2008 and 2020, energy development finance in the five analyzed Western Balkan countries totaled US$3.2 billion, with disbursement ratios exceeding the global average of 63%. Serbia received the largest share of total funding, while Montenegro received the highest amount on a per capita basis.
• 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 increased indebtedness in the five countries.
• The total disbursed energy development finance was insufficient to meet the countries' needs, ranging between 0.15% and 0.62% of the average gross domestic product for the analyzed countries during the study period. Additionally, the analysis found no link between the 2016 adoption of the Paris Agreement and an increase in finance flows for renewable energy projects.

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} }