Bulgaria, through its Ministry of Innovation and Growth (MIG), has announced support for a new regional partnership involving Croatia, Lithuania, Poland, Romania, and Slovenia. This collaboration operates under the umbrella of the Three Seas Initiative and involves 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 in Dubrovnik on April 28.
This agreement commits the parties to launching the new regional initiative aimed at enhancing connectivity across the area later this year. The partnership is projected to secure at least EUR 2 billion in necessary investments for various infrastructure projects. The primary objective of the initiative is to mobilize public funds to attract substantial private capital.
The initial commitment involves the five participating nations jointly contributing EUR 250 million, which the EIF has agreed to match. These funds are earmarked for critical sectors, including clean energy, transport networks, digital connectivity, and social infrastructure. Bulgaria’s commitment to this regional cooperation is channeled through the JEREMIE initiative, which has been extended until 2035.
The planned investment allocation for infrastructure connectivity within the Three Seas Initiative, totaling up to EUR 25 million, represents one of four strategic pillars in Bulgaria’s updated ten-year investment strategy. This strategy also covers technology transfer, deep tech, and growth-stage company funding, solidifying Bulgaria’s role in the broader European economic framework.
Topics: #european #new #three
This partnership seems like a significant step toward integrating the economies of the Balkan and Adriatic regions.
What are the primary goals of the Three Seas Initiative partnership involving these specific countries?