Bulgaria’s Ministry of Innovation and Growth (MIG) has announced its 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. On April 28, representatives from the EIF and national promotional banks from the five Central and Southeastern European countries signed a Memorandum of Understanding in Dubrovnik.
This agreement commits the signatories to launching the regional initiative later this year, aiming to improve connectivity across the area. The partnership is projected to secure at least EUR 2 billion in investments dedicated to critical infrastructure projects. The initiative is designed to mobilize public funds for various connectivity investment funds operating across the region.
The signing occurred on the first day of the Three Seas Initiative summit, held in Croatia on April 28 and 29. Future expansion of this regional cooperation is anticipated, with other countries expected to join once the new Infrastructure Fund of Funds under the initiative is established. The five participating nations, through their respective national promotional banks, plan to jointly contribute EUR 250 million, which the EIF will match.
This public funding mechanism aims to attract private capital, reaching the total goal of EUR 2 billion for infrastructure development in sectors such as clean energy, transport networks, digital connectivity, and social infrastructure across the european space. The MIG confirmed that Bulgaria will support this cooperation via the JEREMIE initiative, which has been extended until 2035. Within this program, the planned investments for infrastructure connectivity under the Three Seas Initiative, up to EUR 25 million, constitute one of four strategic areas for Bulgaria’s new ten-year investment strategy.
Topics: #european #new #three
