Pledges Supports For New Three Seas Partnership Initiative

Bulgaria’s Ministry of Innovation and Growth (MIG) has announced support for a new regional collaboration involving Croatia, Lithuania, Poland, Romania, and Slovenia, operating under the framework of the Three Seas Initiative. The European Investment Fund (EIF), a component of the European Investment Bank (EIB) Group, confirmed this commitment on its website. 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.

This agreement aims to launch the regional initiative to enhance connectivity across the area later this year, with an expected investment total of at least EUR 2 billion for vital infrastructure projects. The initiative is designed to mobilize public funding sources to attract private capital across various connectivity investment sectors. The MoU signing took place during the first day of the Three Seas Initiative summit held in Croatia.

The five participating countries plan to jointly contribute EUR 250 million, which the EIF has committed to matching. This public funding is crucial for attracting private investment across key areas, including clean energy, transport networks, digital infrastructure, and social amenities. For Bulgaria, MIG confirmed its support for this cooperation through the extended JEREMIE initiative, which remains active until 2035.

Under this program, Bulgaria plans to allocate up to EUR 25 million toward infrastructure connectivity within the Three Seas Initiative. This allocation represents one of four strategic areas outlined in Bulgaria’s new ten-year investment strategy, alongside investments in deep tech, technology transfer, and defense and security, solidifying Bulgaria’s role within the broader European economic framework.

Topics: #european #new #three