Bulgaria’s Ministry of Innovation and Growth (MIG) announced support for a new regional partnership involving Croatia, Lithuania, Poland, Romania, and Slovenia within the scope of the Three Seas Initiative. The European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, confirmed that representatives from the EIF and national promotional banks of the five Central and Southeastern European nations 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 region later this year.
This collaboration is projected to secure at least EUR 2 billion in investments for crucial infrastructure projects. The primary goal is to mobilize public funding for various connectivity funds operating across the area. The signing took place on the first 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 aims to attract private capital to reach the target of EUR 2 billion for infrastructure development in sectors including 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.
Within this framework, the planned investments for infrastructure connectivity under the Three Seas Initiative, totaling up to EUR 25 million, represent one of four strategic areas. These areas also include investments in technology transfer and deep tech, growth-stage funds for companies, and defense and security, reinforcing the broader European commitment to regional development.
Topics: #european #new #three
This expansion of the Three Seas Initiative appears to strengthen regional economic cooperation among the participating countries.
What are the primary goals or expected outcomes of this new Three Seas partnership?