Photo by: Saulius Žiūra
Infrastructure is a key foundation stone and a powerful driver of economic growth and resilience. The Three Seas Initiative (3SI) was launched by twelve EU member states situated between the Baltic, Black, and Adriatic Seas to accelerate the development of cross-border energy, transport, and digital networks. On 19 October, Tallinn will host the next Three Seas Summit convening top leaders from Europe and the United States.
Successful execution of
Three Seas Initiative
addresses a 1.16 trillion euro regional infrastructure deficit, a legacy of Soviet occupation of Central and Eastern Europe, and will expand the linkages between Three Seas participating states and between the region and the rest of Europe. Toward these ends, a commercially-managed Three Seas Initiative Investment Fund was launched earlier this year to invest in the region’s cross-border projects, and the United States has pledged to invest up to $1 billion in the fund and Three Seas energy projects.
The International Monetary Fund will soon release a landmark study, Infrastructure in Central, Eastern, and Southeastern Europe: Benchmarking, Macroeconomic Impact, and Policy Issues, that examines the region's infrastructure gaps and assesses the potential returns of infrastructure investment. The report articulates policies that can help countries and regions maximize the benefits of infrastructure investment.
In the run up to the 19 October Three Seas Virtual Summit and Web Forum hosted by the President of Estonia in Tallinn, the Atlantic Council will host a discussion on 28 September on this important IMF report, the Three Seas Initiative, and the opportunities the region’s economic vitality presents for investment.
More information about the event can be found here.
A landmark study to be released by IMF
News
President Rumen Radev Discussed Approaches for Promoting Investment Interest in the Three Seas Initiative with the Managing Director of the IMF Kristalina Georgieva
President Rumen Radev discussed approaches for promoting the
investment interest in the transport, energy and digital connectivity
projects within the Three Seas Initiative during a videoconference call
with the Managing Director of the IMF Kristalina Georgieva. The Three
Seas Initiative requires the development of the investment fund and the
creation of business conditions, as well as the expert support of
international financial institutions to realise its potential, the President
underlined.
investment interest in the transport, energy and digital connectivity
projects within the Three Seas Initiative during a videoconference call
with the Managing Director of the IMF Kristalina Georgieva. The Three
Seas Initiative requires the development of the investment fund and the
creation of business conditions, as well as the expert support of
international financial institutions to realise its potential, the President
underlined.
Bulgaria and Romania to work together within the Three Seas Initiative to attract foreign investors to the region
On April 14, 2021, the Bulgarian Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva met with the newly appointed Ambassador of Romania to Bulgaria Mrs. Brandusa Predescu and discussed with her the cooperation between the two countries within the framework of the Three Seas Initiative. The two interlocutors agreed that Bulgaria and Romania should work actively together to attract foreign investors to the region.