Bulgaria’s Ministry of Innovation and Growth (MIG) has announced support for a new regional partnership involving Croatia, Lithuania, Poland, Romania, and Slovenia, operating under the framework of the Three Seas Initiative. This development was highlighted by the European Investment Fund (EIF), an entity 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.
This agreement commits the parties to launching the new regional initiative later this year, aiming to enhance connectivity across the region. The partnership is projected to secure at least EUR 2 billion in investments for crucial infrastructure projects. The primary goal of the initiative is to mobilize public funding for various connectivity investment funds operating throughout the area.
During the first day of the Three Seas Initiative summit, the agreement was formalized. The five participating countries plan to jointly contribute EUR 250 million, which the EIF will match. This public funding mechanism is designed to attract private capital, reaching the stated total of EUR 2 billion for infrastructure development in sectors including clean energy, transport networks, digital connectivity, and social infrastructure.
For Bulgaria, the Ministry stated that support will be provided through the extended JEREMIE initiative until 2035. The planned investment of up to EUR 25 million for infrastructure connectivity within the Three Seas Initiative constitutes one of four strategic pillars within Bulgaria’s new ten-year investment strategy, alongside technology transfer, growth-stage funding, and defense and security. The establishment of this new cooperative structure is expected to encourage other countries to join the effort.
Topics: #european #new #three
