János Áder, President of the Republic of Hungary
The President of Hungary, János Áder, stresses that in spite of its relatively short history, the Three Seas Initiative has already become a major vehicle of enhancing international cooperation. Hungary actively supports the objectives of investing in joint energy, infrastructure, and IT projects to improve connectivity, increase security and boost economic growth.
Statement by His Excellency János Áder, President of the Republic of Hungary on the Three Seas Initiative
In spite of its relatively short history, the Three Seas Initiative (TSI) has already become a major vehicle of enhancing international cooperation in Central Europe.
Hungary attaches great importance to promoting partnerships in our broader geographical area, and the TSI is on the path to play a crucial role in this field. We actively support its objective of investing in joint energy, infrastructure, and IT projects to improve connectivity, increase security and boost economic growth. It is our conviction that the TSI can also contribute to the further strengthening of transatlantic connections.
Joint action within the framework of the TSI has become even more relevant in these difficult times caused by the COVID-19 pandemic. The current health crisis has not only taken a tragic human toll on our societies, but it has also slowed down the national economies. It demonstrated that adequate connectivity and secure supply chains are vital for our countries’ stable and sustainable development. Thus, the TSI can be a key element both in our short-term recovery plans and long-term economic strategies.
At the October TSI Summit in Tallinn we could advance and highlight one of the first large-scale business cooperation programs in the post-COVID era: a number of projects including not only states, but international financial institutions and third party investors, too. Charting the future of the TSI cooperation, we can now also rely on the successful adoption of the MFF by the European Union.
In the light of these tasks and circumstances, we have high hopes that our forthcoming summit will be a milestone in the evolution of the TSI. I can reassure Estonian President Kersti Kaljulaid that I fully support her efforts to bring us closer in Tallinn to the realization of the goals of the Three Seas Initiative.
President of Hungary: The Three Seas Initiative can be a key element both in our short-term recovery plans and long-term economic strategies
Bulgarian Development Bank commits to the Three Seas Initiative Investment Fund
The Three Seas Initiative Investment Fund has successfully raised an additional €20 million of commitments, invested by the Bulgarian Development Bank. Bulgaria joins Poland, Romania, Estonia, Latvia, Slovenia and Hungary as cornerstone investors.
Bulgaria welcomes the investment of $300 million for the Three Seas Fund approved by DFC
As host of the Three Seas Initiative Summit in 2021 Bulgaria welcomes the decision of the Board of the U.S. International Development Finance Corporation that approved its $300M investment into the Three Seas Initiative Investment Fund