The Three Seas Initiative Investment Fund is a strong tool to support sustainable projects

The Bulgarian Chamber of Commerce and Industry hosted a conference "Equity for Infrastructure" – presentation of the Three Seas Initiative Investment Fund (3SIIF). The event organized by the Investment Council at BCCI and the Bulgarian Development Bank attracted the attention of more than 120 representatives of Bulgarian companies, business organizations, bilateral chambers of commerce and industry, institutions, and representatives of the diplomatic missions in Bulgaria of the countries interested in the Three Seas Initiative.

The President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov opened the event by expressing the Chamber’s support for the Three Seas Initiative, which provides additional opportunities for Bulgarian companies. The sectors in the focus of the initiative and the Investment Fund - energy, transport and information technologies are extremely important for the Bulgarian economy, he said.

The Deputy Minister of Economy Krasimir Kiryakov said that Bulgaria is taking real steps towards achieving the goals of innovation and digitalization. Kiryakov stressed the role of the 3SIIF in supporting the efforts of the participating countries to attract more investment and public-private partnerships in the development of connecting infrastructure in the region. In 2020, the Bulgarian Development Bank together with 6 other national promotional financial institutions joined as a Class “A” shareholder in the 3SIIF with a cash contribution of EUR 20 million to the capital of the Fund.

Tsanko Arabadjiev, Executive Director of the Bulgarian Development Bank (BDB), expressed the opinion that the Fund is a strong tool to support sustainable projects. There are already 3 supported projects in the three priority areas, including one in Bulgaria.

Joe Philipsz, Investment Director at Amber Infrastructure Group, the organization managing the Three Seas Initiative Investment Fund, explained the conditions that projects must meet to receive support. The projects under the initiative are in the sectors of energy (40%), transport (40%) and digital connectivity (20%), with a corresponding percentage of the total budget of the Fund under the Initiative.

The Fund invests in the range of EUR 50-250 million directly in minority or majority shares in new or existing companies, indirectly through investment holding companies and/or special purpose companies established in the EU. Decisions to invest in a project are made entirely on a business basis by the Fund’s management. More information HERE.

Iliya Lingorski, a leading economist at BDB and a member of the 3SIIF Board, Vladimir Tomov, Chairman of the Investment Council at BCCI, and Joe Philipsz had a lively discussion with the participants in the conference. After the event, individual meetings were held with Bulgarian companies regarding their projects.