Innovative and Effective Development Finance Institutions for Sustainable Development.

Ostojić, Ivana and Petrović, Predrag and Jovanović, Predrag (2024) Innovative and Effective Development Finance Institutions for Sustainable Development. In: Towards a Better Future:: Peace, Justice, and Strong Institutions. St. Kliment Ohridski University, Bitola, pp. 138-150. ISBN 978-608-4670-24-7

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Abstract

With effective and strong policy guidance and sufficient resources, development finance institutions have the capacity to effectively and innovatively foster sustainable development. Development finance institutions have several objectives related to investing in private sector sustainable development projects, maximizing development impact, achieving long-term financial sustainability and mobilizing private finance. Private investments are crucial for sustainable development and development finance institutions are becoming increasingly important actors in the development finance landscape. The paper analyzes the concept of development finance institutions, reasons that influenced governments to establish them, as well as their involvement in the political scene. The subject of research is their role in private finance mobilization and financing development, eliminating the undercapitalization of small and medium enterprises, creating new job opportunities, increasing employment, as well as mitigating negative consequences of the crisis.

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