AIK Banka is, and will continue to be dedicated to the green agenda and bringing the Western Balkans region closer to European standards in financing projects based on sustainable principles. This is the message from AIK Banka ahead of the first ESG summit in the Western Balkans. From April 26 to 28, Porto Montenegro will host the first major regional conference dedicated to ESG standards, with AIK Banka as the gold sponsor of the event. Participants will have the opportunity to discuss topics related to building sustainable business standards, the role of the business sector in the green transition, potentials and limitations in approaching standards, and establishing sustainable economic principles.
"AIK Banka has recognized its role in the green transition primarily through systematic work with small and medium-sized enterprises. The sector of small and medium-sized enterprises represents a vital part of the Serbian economy, making up 99 percent of the total number of registered companies in Serbia. However, according to the MSME Finance Gap Report, the total missing funds in financing this sector in Serbia are estimated at $7.59 billion," says Jelena Galić, Chairperson of the Board of Directors at AIK Banka.
The aim is to provide greater opportunities for small and medium-sized enterprises to obtain credit and to develop new financing options for climate change projects. AIK Banka not only provides funds for green solutions, but also offers advisory roles to companies, and the bank's experts convey the best solutions from Europe and the world to the Western Balkans market.
"Approximately three-quarters of small and medium-sized enterprises are willing to invest in green projects to improve business and mitigate the effects of climate change, while the biggest challenges they face are the lack of capital, as well as insufficient knowledge about green technologies and financing options available on the market," Galić notes.
Through a long-term partnership between AIK Banka and the International Finance Corporation (IFC), a new chapter has been opened in further development in terms of environmental protection, social responsibility, and conscientious corporate governance.
"In addition to providing funds and dedication to climate change, AIK Banka has also established a framework for environmental protection, social responsibility, and conscientious corporate governance (ESG). That is why we are the natural partner for the first ESG Summit in the Western Balkans. We believe that this story should be spread further. The banking sector in Serbia and the region can change the way the entire community thinks about sustainable business," concludes Jelena Galić.
Biljana Braithwaite, the CEO and Founding partner of Sustineri Partners, one of the organizers of the Western Balkans ESG Summit, emphasizes the importance of these partnerships.
"In our discussions with the AIK Banka team, we recognized that we share the same values and understand what ESG can mean for the region. Sustainable business simply pays off, and the sooner the Western Balkans recognizes its opportunity, the greater the chance it will be ready and competitive for the new conditions that markets will set for our companies - especially those focused on exporting goods and services," Braithwaite adds.
With over 400 registered participants, numerous panel discussions, and presentations of innovations, the Western Balkans ESG Summit can be a turning point in terms of recognizing ESG standards for the economies of the region. It is time for numerous others to discover the opportunity that the financial sector has already discovered.
