Pledges Supports For New Three Seas Partnership Initiative

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. Representatives from the EIF and the national promotional banks of the five Central and Southeastern European countries signed a Memorandum of Understanding on April 28 in Dubrovnik.

This agreement commits the signatories to launching the regional initiative to enhance connectivity across the area later this year. The partnership is projected to secure at least EUR 2 billion in investments for crucial infrastructure projects. The goal is to mobilize public funds to support a variety of connectivity investment funds operating throughout the region.

The signing occurred on the opening day of the Three Seas Initiative summit, held in Croatia on April 28 and 29. The five participating nations plan to jointly contribute EUR 250 million through their national promotional banks, an amount the EIF will match. This public funding is designed to attract private capital, aiming for the total investment target of EUR 2 billion across sectors including clean energy, transport networks, digital connectivity, and social infrastructure.

The MIG confirmed that Bulgaria will support this new regional cooperation through the JEREMIE initiative, which has been extended until 2035. The planned investments under the program, amounting to up to EUR 25 million for infrastructure connectivity within the Three Seas Initiative, represent one of four strategic areas in Bulgaria’s new ten-year investment strategy. This strategy also includes investments in technology transfer, deep tech, growth-stage funds, and defense and security, contributing to the broader European economic framework.

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