Bulgaria’s Ministry of Innovation and Growth (MIG) has announced its support for a new regional partnership involving Croatia, Lithuania, Poland, Romania, and Slovenia within the framework of the Three Seas Initiative. This development was highlighted by the European Investment Fund (EIF), an entity of 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, committing to launch this regional initiative aimed at enhancing connectivity across the region later this year.
The partnership is projected to secure at least EUR 2 billion in investments for vital infrastructure projects. The goal is to mobilize public funds for various connectivity investment funds operating throughout the area. The signing took place during the inaugural day of the Three Seas Initiative summit held in Croatia.
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 necessary for infrastructure development in sectors such as clean energy, transport networks, digital connectivity, and social infrastructure. For Bulgaria, the MIG stated that support will be provided through the JEREMIE initiative, which has been extended until 2035.
Under this program, up to EUR 25 million is allocated for infrastructure connectivity within the Three Seas Initiative. This represents one of four strategic areas in Bulgaria’s new ten-year investment strategy, alongside investments in deep tech, growth-stage funds, and defense and security. The establishment of this new regional cooperation is expected to draw participation from other nations as the Infrastructure Fund of Funds under the Three Seas Initiative becomes fully operational.
Topics: #european #new #three
