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Digital investment - a bedrock of development of the Three Seas Initiative

10.05.2021

- The Three Seas region will play a key role in building the Europe of tomorrow. For this reason, we are enhancing the digital dimension of this cooperation - said the MFA Undersecretary and the Government Plenipotentiary for The Three Seas Initiative at the today’s conference “Three Seas Initiative Investment Fund for Digital Growth” organised by an association of digital companies Związek Cyfrowa Polska.

Deputy Minister Paweł Jabłoński attends the discussion on Three Seas Initiative

Deputy Minister Jabłoński presented key objectives and guidelines of the Three Seas, as well as its achievements to date and prospects for development. Making reference to the “Three Seas Smart Connectivity” concept that had been put forward at the last year’s Initiative Summit in Tallinn, the minister stressed that connecting energy and transport infrastructure in the member countries by means of digital platforms is of utmost importance for the development of our region.

Poland wants to develop new prospects for cooperation within the Three Seas. Cybersecurity is one of such areas. Nowadays, it is a key element of building digital infrastructure as well as any other infrastructure which implements smart solutions -  stressed the deputy head of Polish diplomacy.

The talks also focused on the formula and role of the Initiative’s Investment Fund, which also due to its commercial character, can serve as a promising instrument of financing digital undertakings. An example is an Estonian project Greenergy Data Centers which provides for a construction of data centres’ network powered by renewable energy in the Three Seas region. The project has received financial support from the Fund.

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Launched in 2016 by the presidents of Poland and Croatia, the Three Seas Initiative aims at maintaining and strengthening the unity of the EU and the Euro-Atlantic area. The Initiative brings together twelve Central European countries.    

The Three Seas Investment Fund was established in 2019 on the initiative of Poland and Romania. It serves as an instrument to finance joint projects, which strengthens the practical  dimension of the Three Seas Initiative and attracts private capital.  Its goal is to finance transport, energy, and digital infrastructure-related projects in the Three Seas region. Thanks to its proceeds to date, the total value of the Fund amounts to EUR 1.22 bn EUR (Poland’s contribution comes to EUR 750 m), its target value will reach EUR 5 bn and will embrace contributions of 3SI member states, international financial institutions, and institutional private investors.

MInistry of Foreign Affairs
Press Office

Photo: Gabriel Piętka / MFA 

 

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