Bulgaria’s Ministry of Innovation and Growth (MIG) has announced support for a new regional collaboration involving Croatia, Lithuania, Poland, Romania, and Slovenia under the framework of the Three Seas Initiative. This initiative is supported by the European Investment Fund (EIF), which operates within the European Investment Bank (EIB) Group. Representatives from the EIF and national promotional banks from the five Central and Southeastern European nations signed a Memorandum of Understanding in Dubrovnik on April 28, committing to launch the regional effort later this year.
The partnership aims to secure at least EUR 2 billion in investments for critical infrastructure projects across the region. This funding mechanism is designed to mobilize public capital for various connectivity investment funds. The signing occurred during the inaugural Three Seas Initiative summit in Croatia.
The five participating countries plan to jointly contribute EUR 250 million, an amount that the EIF will match. This public funding is intended to attract private capital, reaching the projected EUR 2 billion total, for infrastructure development in sectors including clean energy, transport networks, digital connectivity, and social infrastructure. For Bulgaria, the MIG confirmed its support through the JEREMIE initiative, which has been extended until 2035.
Within the broader scope of the Three Seas Initiative, the planned investments in infrastructure connectivity, amounting to up to EUR 25 million, constitute one of four strategic areas under Bulgaria’s new ten-year investment strategy, alongside technology transfer, growth-stage funds, and defense. The development of this new cooperation is expected to encourage further participation from other nations.
Topics: #european #new #three
