The Ministry of Innovation and Growth (MIG) in Bulgaria has announced support for a new regional partnership involving Croatia, Lithuania, Poland, Romania, and Slovenia. This collaboration operates under the framework of the Three Seas Initiative, involving the European Investment Fund (EIF), an entity within the European Investment Bank (EIB) Group. On April 28th, 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 parties to launching the new regional initiative later this year, aiming to enhance connectivity across the region. 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 to support various connectivity investment funds operating throughout the area.
The joint public funding contribution from the five participating nations totals EUR 250 million, which the EIF has agreed to match. This combined public funding aims to attract private capital necessary for developing infrastructure in sectors such as clean energy, transport networks, digital connectivity, and social infrastructure. The signing ceremony took place on the opening day of the Three Seas Initiative summit held in Croatia.
Furthermore, other nations are anticipated to join this regional cooperation once the new Infrastructure Fund of Funds under the Three Seas Initiative is fully established. Bulgaria’s commitment to this broader european effort is channeled through the extended JEREMIE initiative, which remains active until 2035. The planned investments under this program for infrastructure connectivity within the Three Seas Initiative, totaling up to EUR 25 million, represent one of four strategic pillars for Bulgaria’s new ten-year investment strategy, alongside technology transfer, growth-stage funds, and defense.
Topics: #european #new #three
