Ibec encourages engagement with the European Three Seas Initiative and Investment fund

May 17, 2023

Earlier today, Ibec, the group that represents Irish business, hosted an event with the Embassy of the Republic of Poland in Dublin and the BGK – Polish State Development Bank - to highlight the Three Seas Initiative Investment Fund.

Referred to by Bloomberg as the “the most important geopolitical project you’ve never heard of”, the aim of the Three Seas Initiative is to foster enhanced infrastructure, economic and social cooperation. It is made up of twelve countries (Austria, Bulgaria, Croatia, Czech Rep., Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia) located between three seas (Baltic, Adriatic and Black). This significant grouping accounts for 25% of the EU’s population, 30% of its territory and total trade turnover €225.6 billion.

The Three Seas Initiative Investment Fund (3SIIF) is a dedicated commercial fund targeting essential infrastructure investments in Central and Eastern Europe in transport, energy and digital infrastructure. It is supported by the national development finance institutions of the Three Seas countries and to date, €928 million has been raised by the fund.

The event, hosted at Ibec’s offices in Dublin, was a chance to learn more about what the Three Seas Initiative is, understand the opportunities in the region and network with the representatives of Member States investment and cybersecurity agencies from the region.

Speakers at the event included Anna Sochańska, Ambassador of the Republic of Poland, Danny McCoy, CEO of Ibec, Radosław Fogiel, Chairman of the Committee on Foreign Affairs of the Sejm – Parliament of the Republic of Poland, Ștefan Laurențiu-Mihai, Ambassador of Romania to Ireland and Michael Clausen, Deputy Chief of Mission, US Embassy.

Speaking about the event, Anna Sochańska, Ambassador of the Republic of Poland said “The Three Seas Initiative is a unique opportunity for the 3SI member states, strategic partners and friends to strengthen our commitment and willingness to closely cooperate and create sustainable and smart solutions for restoring growth and security in the region. We are delighted to host this event today with Ibec and the BGK – the Polish State Development Bank – to build even stronger connections.”

Her remarks were echoed by Danny McCoy, CEO of Ibec who said “The Three Seas Initiative Investment Fund is an important investment vehicle to finance key infrastructure projects in the region. We at Ibec are delighted to raise awareness of the initiative and foster opportunities for the investment fund. This kind of dynamic partnership is critical to ensuring the long-term economic growth and security of the region which benefits every member of the European Union.”