Reis Mulita – Canadian Institute of Technology, Rruga “Xhanfize Keko” Nr. 12, Tirana, Albania

Keywords:                     Green finance;
Sustainable development;
Western Balkans



This paper explores the concept of sustainable development and green finance, their importance, and how they are related with a focus on Western Balkans perspectives.

The main hypothesis presented is that green finance has the potential to be a key factor in encouraging sustainable development in the Western Balkans because it can contribute to the development of a more resilient and sustain­able future for all countries in the region, regardless of their borders or differ­ences in culture or identity.

The author uses a qualitative and quality research approach, using a combi­nation of literature review and empirical data to explore the relationship be­tween sustainable development and green finance. The literature review will involve a comprehensive literature analysis on sustainable development and green finance, including academic sources, institutional reports, case stud­ies, etc. In conclusion, the paper finds that sustainable finance is progressive­ly gaining prominence in Western Balkan countries, aligning with European and global trends.

9th International Scientific ERAZ Conference – ERAZ 2023 – Selected Papers: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, hybrid – online, virtually and in person, Prague, Czech Republic, June 1, 2023

ERAZ Selected Papers published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2023 Selected Papers: ISBN 978-86-80194-73-8, ISSN 2683-5568, DOI:

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License ( which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Mulita, R. (2023). Green Finance for Sustainable Development in the Western Balkans. In V. Bevanda (Ed.), ERAZ Conference – Knowlegde Based Sustainable Development: Vol 9. Selected Papers (pp. 33-41). Association of Economists and Managers of the Balkans.


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