Bulgaria, via its Ministry of Innovation and Growth (MIG), has pledged support for a new regional collaboration involving Croatia, Lithuania, Poland, Romania, and Slovenia under the framework of the Three Seas Initiative. This commitment was announced 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 countries signed a Memorandum of Understanding in Dubrovnik on April 28.
This agreement commits the parties to launching the regional initiative to enhance connectivity across the area later this year. The partnership is projected to secure a minimum of EUR 2 billion in investments for vital infrastructure projects. The goal of the initiative is to mobilize public funding for various connectivity investment funds operating throughout the region.
The memorandum was signed 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, which the EIF will match. This public funding aims to attract private capital, targeting the aforementioned EUR 2 billion for infrastructure development in sectors such as clean energy, transport networks, digital connectivity, and social infrastructure.
The MIG stated that Bulgaria will support this regional cooperation through the JEREMIE initiative, which has been extended until 2035. The planned investments under this program for infrastructure connectivity within the Three Seas Initiative, totaling up to EUR 25 million, constitute one of four strategic areas in Bulgaria’s updated ten-year investment strategy, alongside deep tech, growth-stage funds, and defense and security.
Topics: #european #new #three
