jorgovanka tabakovi : only sustainable growth and development lead to a sustainable future address by dr jorgovanka tabakovi, governor of the national bank of serbia, at the first western balkans sustainable investing forum, national bank of serbia, belgrade, 17 november 2022. * * * accompanying presentation of the speech welcome to the national bank of serbia and the first western balkans sustainable investing forum, i hope the first of many. first of all, i would like to greet my colleague and friend igor mirovi, the president of the provincial government. at his initiative, the development and guarantee fund of vojvodina and the guarantee fund of the republic of srpska founded the business association " green navigator of the western balkans ". all forms of cooperation, especially those aimed at strengthening renewable energy sources and agriculture, are an important element of sustainable growth. i also welcome mr. alessandro bragonzi, head of regional representation for western balkans at the european investment bank ( eib ). the eib is the eu's climate bank, but through its activities it also supports the green transition in the western balkans. the cooperation between the nbs and the eib is particularly dynamic in the area of disbursement of apex loans, with the nbs acting as serbia's agent. apex loan funds are intended for entrepreneurs, small and medium - sized enterprises, companies of medium market capitalisation, priority projects and local self - government, for projects in infrastructure, protection and improvement of the environment, energy efficiency, health and education. around 9, 600 new jobs are to be opened throughout serbia within the projects that have been financed so far from the apex loans, and i am especially happy about those that support the employment of young people in serbia as well as the development of education, because there is no substitute for knowledge. ladies and gentlemen, it is evident that not all growth is equally good. only sustainable growth and development lead to a sustainable future. and if growth is not sustainable, investments cannot be sustainable either. the reverse is also true. that's why when we talk about sustainable growth, we can't help but include the following questions : green economy, digital economy, and issues of various types of equality. i will continue about : awareness of the importance of " green " transformation necessity of taking a gradual approach in that process 1 / 4 bis - central bankers'speeches nbs activities in the area of sustainable investing i will start by stating that

the work of the vienna initiative climate change working group, which is co - chaired by the european investment bank, the european commission, the european bank for reconstruction and development and the world bank group. the goal of the working group is to discuss availability and quality of data, regulation and supervision, development and improvement of knowledge and capacity in the area of climate risks, as well as the transition process faced by many sectors. it is a good platform that enables the exchange of experience and plans, especially since the representatives of the european and global regulators are present in the working group, which gives an insight into the current and planned measures for managing and monitoring the risks related to climate change. ladies and gentlemen, there is no doubt that ecology must be one of the priorities of policy makers, and in serbia it is, because it is interwoven with many policies. also, all actors – from individuals to institutions and decision makers – must act responsibly. however, this does not mean that we should close factories that are not eco - friendly, but that every activity should be carefully measured, and that our task is to find sustainable solutions that will be the best for our citizens. this is evident in the example of the current global 3 / 4 bis - central bankers'speeches energy crisis, where it takes time to build alternative energy sources, and where energy security is a priority. this means that it is important to find the right measure and the right sequence of activities, and we all have to participate. today's event is a proper collective action. thank you for your attention and i wish you a successful first western balkans sustainable investing forum 4 / 4 bis - central bankers'speeches