Three Seas Initiative Investment Fund
VIPA & 3SIIF News
Lithuania has joined the Three Seas Initiative Investment Fund
VIPA representing the state of Lithuania on behalf of the Government of the Republic of Lithuania has committed to invest EUR 20 million in the Three Seas Initiative Investment Fund (3SIIF) and became its full-fledged member. The President of the Republic of Lithuania Gitanas Nausėda presented Lithuania’s decision to join the 3SIIF at the Three Seas Virtual Summit and Web Forum held in Tallinn on 19 October 2020.
Lithuania became a full-fledged member of the Three Seas Initiative Investment Fund. The Government has authorised a state-owned national promotional institution – the Public Investment Development Agency – to represent the state of Lithuania in it.
The Three Seas Initiative is a political platform, at Presidential level, launched in 2015. It aims to promote cooperation, first and foremost, for the development of infrastructure in the energy, transport, and digital sectors. It targets new investments, economic growth, and energy security. It brings together the 12 EU member states located between the Adriatic, the Baltic and the Black Seas: Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. The United States, Germany and the European Commission are partners of this project.
The Three Seas Initiative Investment Fund is an investment vehicle to finance key infrastructure projects in the Three Seas region. The main objective of the Three Seas Fund is to invest in transport, energy and digital infrastructure on the north-south axis in the Three Seas countries and to offset the differences in the development of individual regions of the European Union.
Lithuania’s participation in the activities of the Fund increases funding opportunities for national infrastructure projects, strengthens the Euro-Atlantic partnership and cooperation with Central and Eastern European countries, and its neighbours.
More information about Three Seas Initiative Investment Fund you may find at the official 3SIIF website.