Estonia joins Three Seas Initiative Investment Fund

  • 2020-04-17

WARSAW - Estonia, along with Poland and Romania, has joined the Three Seas Initiative Investment Fund, created to finance ambitious infrastructure projects in the energy, transport and digital sectors in Central and Eastern Europe, the Estonian Foreign Ministry informed Thursday. 

Poland and Romania joined the fund already earlier, with several other countries in the region also considering membership in the fund. 

Estonian Foreign Minister Urmas Reinsalu indicated that joining the fund is an important step in the political cooperation with the United States and the states of Central and Eastern Europe. 

He added that the fund would also provide a strong impetus for overcoming strategic shortcomings in infrastructure investments, particularly in domains such as energy security, digital networks and transport links.

Estonia has begun preparations for the fifth summit and third business forum of the Three Seas Initiative, which will be held in Tallinn on October 19 and 20, 2020. Originally, the two meetings were supposed to take place already earlier but they had to be postponed due to the coronavirus pandemic. 

"Organizing the summit and business forum in Estonia is an excellent opportunity to enhance cooperation with the Three Seas countries," said Reinsalu. 

The Three Seas Initiative is a platform that brings together 12 European Union member states from the Adriatic, Baltic and Black seas. The initiative enhances cooperation mainly with the aim of developing energy, transport and digital infrastructure. The objectives of the initiative include economic growth, energy security and a more united Europe. 

The initiative's key partners include Germany, the EU and the United States.