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US development agency to invest millions in Polish-led Three Seas Initiative

14.12.2020 07:30
A US development agency has announced a plan to invest USD 300 million in the Three Seas Initiative, a Polish-led regional drive by European countries between the Black, Baltic and Adriatic Seas.
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Pixabay LicenseImage by Stephen Bayer from Pixabay

The U.S. International Development Finance Corporation (DFC) said its investment was intended to help Central and Eastern European countries bolster their energy security. 

The USD 300 million in funding for the Three Seas Initiative Investment Fund “will advance investment in sectors such as energy, transportation and digital infrastructure in Eastern Europe,” the DFC said in a statement.

It added that the Three Seas Initiative Investment Fund “aims to overcome existing market challenges to raise capital for critical infrastructure projects.”

The agency noted that the United States has been an active supporter of the Three Seas Initiative.

The US ambassador to Warsaw, Georgette Mosbacher, said in a Twitter post that America's investment in the Three Seas Initiative "is a sign of our strong commitment to this region and its economic development."

US Secretary of State Mike Pompeo in October lauded Poland’s “strong leadership role" in the Three Seas Initiative, which aims to boost infrastructure, energy and business ties among 12 countries between the Black, Baltic and Adriatic Seas.

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


Source: IAR, dfc.gov