Historic Development Expected in the Western Balkans

László Örlős, Managing Director of the Western Balkans Green Center Nonprofit Llc. (WBGC), was interviewed by the Diplomatic Magazine. During the conversation he stressed that we are facing a decade of crucial importance and that coordinated actions are needed at international, national and regional levels to mitigate the effects of climate change. Hungary's involvement in international climate financing is a significant initiative by regional comparison, as it is implemented within the framework of a permanent institution and financial mechanism. In the next 30 years a complete rethinking of how the economy functions will be necessary. Through its activities, the WBGC promotes this green transition, particularly in the Western Balkans region.

In two years, projects with a total value of approximately HUF 70-80 billion could be prepared through the bankability and capacity-building support programme of the WBGC. This, with Hungarian expertise and technology, will be able to take the form of investments that will have a significant development and climate protection impact.

The whole interview about the challenges the neighbouring region is facing, the awareness relating to renewable energy, the importance of the Western Balkans Economic and Investment Plan announced by the European Commissioner for Neighbourhood and Enlargement and the WBGC's medium and long-term plans can be read in the July-August 2021 issue of the Diplomatic Magazine.