Over 190 Investment Projects Awaiting Approval in 12 Member-states of 3SI

Business | July 9, 2021, Friday // 23:54
Bulgaria: Over 190 Investment Projects Awaiting Approval in 12 Member-states of 3SI

More than 190 projects in the Three Seas region are awaiting approval from member states' investment funds, the chairman of the supervisory board of the institution told BNT on July 8. At today's forum, the American Chambers of Commerce in all Member States agreed to always support the initiative as a co-organizer of events.

There are three priority areas in which the investment fund of "Three Seas" will support companies - energy, transport and digitalization. The resource raised so far in the fund is 1 billion euros and it is expected to raise up to 5 billion.

This is not about how each country gets this money step by step, no, it is about how to build investment in the three priority sectors - logistics and transport; energy and digitalization. It's about how to increase our overall growth. If we focus only on money and not on investment, we will most likely lose something, explains Beata Dashinska-Muzicka, chair of the Investment Fund of the Three Seas Initiative.

The main condition for a project to be approved is that its activity covers several countries. One of the projects that won funding is from an Austrian company that will build solar parks, including in Bulgaria.

This is the discussion we will have. In order to be able to have a tool that is aimed at large infrastructure projects, but also at smaller ones, but with a very high degree of innovation, says Iliya Lingorski, BDB.

An additional opportunity for the region will come from the International Monetary Fund.

We expect the fund's board of directors in the coming days.to move a proposal for a vote to all member states regarding the issue of $ 650 billion in special rights This is an injection into the reserves of all member countries of the Fund, said Kristalina Georgieva, Managing Director of the IMF.

The IMF forecasts that the countries of the Three Seas Initiative will have accelerated growth, which will be by 1.5 percentage points higher than in Western Europe.

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