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I UNDERSTAND
English Section

Three Seas Initiative investment fund finalising deal with advisors: official

12.02.2020 14:01
The Three Seas Initiative Investment Fund, which aims to develop infrastructure in 12 countries between the Baltic, Adriatic and Black Seas, is finalising a deal with advisors who will seek money for the fund, a senior official has said.
Beata Daszyńska-Muzyczka
Beata Daszyńska-Muzyczka Photo: PAP/Tomasz Gzell

"We are finalising arrangements which will result in signing contracts with investment advisors,” said Beata Daszyńska-Muzyczka, CEO of Polish state bank BGK and chair of the investment fund’s supervisory board.

“We are talking with Credit Suisse Energy Infrastructure Partners and Amber Infrastructure," she added.

The Polish-led Three Seas Initiative aims to boost infrastructure, energy and economic cooperation among 12 countries between the Black, Baltic and Adriatic Seas.

The initiative brings together Poland, Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Lithuania, Latvia, Romania, Slovakia, Slovenia and Hungary.

Daszyńska-Muzyczka said that the investment advisors would be responsible for finding new investors and promoting the Three Seas Initiative Investment Fund.

She added that at the end of January a delegation representing the fund held a series of meetings in the United States, highlighting the potential of the Three Seas region.

"The purpose of our trip to the United States was to talk to international institutions such as the International Monetary Fund and the World Bank,” she said.

"We wanted to make people more aware of the importance of cooperation in the Three Seas region, the common history of the countries of the region, starting from the Second World War, through the destruction caused by communism, which caused huge deficiencies in infrastructure.”

BGK (Bank Gospodarstwa Krajowego) is a state development bank that initiates projects promoting economic growth in Poland.

(pk/gs)

Source: PAP