Bulgaria, through its Ministry of Innovation and Growth (MIG), has announced support for a new regional collaboration involving Croatia, Lithuania, Poland, Romania, and Slovenia under the Three Seas Initiative (TSI). This commitment was formalized when representatives from the European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, and the national promotional banks of the five Central and Southeastern European nations signed a Memorandum of Understanding in Dubrovnik on April 28. The agreement aims to launch the regional connectivity initiative later this year.
The primary objective of this partnership is to secure at least EUR 2 billion in investments for infrastructure projects across the region. The initiative is designed to mobilize public funding streams to attract significant private capital for vital infrastructure areas, including clean energy, transport networks, digital connectivity, and social infrastructure. The five participating countries plan to jointly contribute EUR 250 million, which the EIF has agreed to match.
The signing took place during the first day of the Three Seas Initiative summit held in Croatia. The MIG noted that Bulgaria will support this european cooperation through the extended JEREMIE initiative, which runs until 2035. Under this program, Bulgaria plans to allocate up to EUR 25 million for infrastructure connectivity within the TSI framework.
This investment represents one of four strategic areas outlined in Bulgaria’s ten-year investment strategy, alongside technology transfer, growth-stage funds, and defense and security. Other nations are expected to join the cooperation as the new Infrastructure Fund of Funds under the TSI is established.
Topics: #european #new #three
This formal backing from Bulgaria signals a renewed focus on regional infrastructure cooperation.