At Energy Week Western Balkans 2024, the World Bank highlighted the importance of an enabling environment to attract private-sector investments in renewable energy.  

Christopher Sheldon, World Bank Country Manager for Bosnia and Herzegovina and Montenegro, outlined plans for targeted infrastructure upgrades, including grid enhancements to accommodate renewable energy sources. These upgrades will play a critical role in advancing the region’s transition by enabling both public and private sector investments essential for sustainable energy growth. 

The World Bank’s recent climate report emphasises the need for an “enabling environment” to attract investment in green energy. Sheldon explained that while the region shows strong potential for renewables, it must address challenges in policy and infrastructure to ensure successful integration. By developing a supportive legal and regulatory framework, the Western Balkans can enhance its appeal as a renewable energy market, benefiting from increased foreign investment and a more secure energy future. 

Beyond energy infrastructure, the World Bank is also focused on assisting governments in developing decarbonisation policies. Their Climate Development Report for the Western Balkans provides a roadmap for achieving net-zero emissions by 2050. As the region builds a sustainable energy foundation, the World Bank’s involvement will help ensure the adoption of policies that drive green transition and encourage resilient energy markets, reinforcing the role of private investment as a central driver of progress.