09.07.2021 BDB hosted investment panel within Three Seas Forum

Introduction of new tool to support innovation is being considered

"Investing in infrastructure for economic development and growth" is the topic of discussion held today within the Three Seas Initiative Business Forum. The event was opened by the Bulgarian Minister of Economy Kiril Petkov, national coordinator of the initiative, the US Secretary of Commerce Gina Raimondo, and the Vice-President of the European Investment Bank Lilyana Pavlova. The investment discussion was moderated by the Chief Economist of the Bulgarian Development Bank Iliya Lingorski. Options for financing priority projects from the Three Seas Initiative Investment Fund were discussed. The participants in the forum were unanimous that the Black, Adriatic and Baltic Sea region will be increasingly attractive for large-scale strategic investments, thanks to the enhanced partnership. The goal is to overcome the lag of Central and Eastern Europe in terms of infrastructure development, compared to the western part of the continent, through transport, energy and digital connectivity. The creation of a new tool to support innovation was discussed. The projects of the Austrian investors Enery Development and the International Development Finance Corporation (DFC), Washington, were also presented to the top financiers and entrepreneurs attending the forum.

The panel was attended by Atanas Pekanov, Deputy Prime Minister for EU Funds Management, Ian Brzezinski, New Atlantic Council Senior Fellow, Washington, Joe Phillips, Investment Director at Amber Infrastructure Group – Exclusive Investment Advisor to the Three Seas Initiative Investment Fund, Beata Dashinska-Muzichka, Chairperson of the Supervisory Board of 3SIIF and President of the Management Board of the Polish Development Bank (BGK), Richard Koenig, Chief Executive Officer of Enery Development, Michelle Czarniak, DFC’s Deputy Chief of Staff, and Sofia Kasidova, Head of Strategic Analysis and Development at BDB.

The first three investments in the main areas of cooperation – transport, digitalization and energy, made in less than a year, are already a fact. An active partnership in research and innovation is also coming to achieve competitiveness and economic success.