By PAC Intern Emma Barska
Last updated: 09/17/2020
Three Seas project development serves entire EU – president
September 7, 2020
Polish President Andrzej Duda highlighted the purpose and benefits of the Three Seas Initiative while opening the Three Seas Stock Exchanges Conference in Kraków on Monday, September 7th, 2020. The project, which relies on the regional cooperation between twelve Central and Eastern European countries, was established to stimulate unprecedented economic development throughout this part of Europe. By building highways and expressways, railway lines and good energy links, the Three Seas Initiative will strengthen the area’s security, bolstering the European Union as a whole. Additionally, international collaboration will lead to the growth of a single large capital market. President Duda encouraged politicians to support businesses as they continue to contribute to the progress within the region.
Bulgaria to put 20 mln euro into Three Seas Initiative’s investment fund – govt
September 04, 2020
Bulgaria has pledged to contribute $23.7 million euro to the Three Seas Initiative Fund – a commercial fund that sponsors infrastructure investment in Central and Eastern Europe. The Three Seas Initiative’s objective is to stimulate infrastructural development across the energy, transportation, and digital spheres of twelve EU countries. The Bulgarian government is hoping to finance multiple domestic infrastructure projects under the Three Seas Initiative. According to the Bulgarian foreign ministry, these projects include the construction of a tunnel under the Petrohan pass, the creation of a railway line between Ruse and Varna, and the expansion of the Chiren underground gas storage facility.
Poland’s new foreign minister vows to continue predecessor’s policy
September 2, 2020
Zbigniew Rau, Poland’s new Foreign Minister, has stated that he will continue the nation’s existing foreign policy in coordination with the government and President Andrzej Duda. Rau is committed to maintaining Poland’s central role within the Three Seas initiative, among other international collaboration projects and approaches.
PM Borissov: Bulgaria Will Participate With EUR 20 Million In the Investment Fund of the Three Seas Initiative
September 2, 2020
Bulgarian Prime Minister Boyko Borissov announced that Bulgaria will participate in the Three Seas Initiative Fund by investing more than 20 million euro in the project. Bulgaria will help to create enhanced North-South connectivity in the energy, transport, communications, information technology, and business sectors, significantly reinforcing the country’s critical position within the region. The Three Seas Initiative will provide Bulgaria with momentous opportunities to improve foreign economic relations and further develop its infrastructure.
US Sees Slovenia as important player in Three Seas Initiative
September 5, 2020
Matt Boyse, the deputy assistant secretary at the US Department of State’s Bureau of European and Eurasian Affairs, applauded Slovenia’s contributions to the Three Seas Initiative as US-Slovenia relations continue to get stronger.
Fundusz Trójmorza może pomóc w budowie Via Carpatii
September 9, 2020
Andrzej Adamczyk, the Polish Minister of Infrastructure and Construction, recently announced that while Poland has secured all necessary funds to construct its segment of the Via Carpathia transnational highway network, the Three Seas Initiative can help other participatory nations complete this project on their territories. Countries lacking financial resources, such as Slovakia, will be able to benefit from the Three Seas Initiative Fund and build their respective segments of the road. Adamczyk stated that this international cooperation will result in the formation of a communication platform that will accelerate the development of the region.
Estonia joins the Three Seas Initiative Investment Fund with €20 million
September 17, 2020
Estonia has joined the Three Seas Initiative Fund as a “core investor” and will contribute up to 20 million euro to the cause. The Three Seas Initiative aims to grow the competitive capacity of Europe by infrastructurally developing twelve EU member states between the Baltic, Black, and Adriatic seas. Martin Helme, the Estonian Minister of Finance, said that the success of the Three Seas Initiative plays a crucial role in stimulating Estonian capital markets. The Minister stated that this project will open up avenues for Estonian energy, transportation, and digital infrastructure companies to expand their scope of influence.
Foreign Minister Aurescu, US ambassador discuss Three Seas Initiative, Alexei Navalny case
September 16, 2020
On September 15th, 2020, Romanian Minister of Foreign Affairs Bogdan Aurescu met with US Ambassador Adrian Zuckerman in Bucharest. Among other topics, the officials considered the role of the Three Seas Initiative in strengthening the relationship between the EU and the US. Aurescu detailed the collaboration between Poland and Romania within the Three Seas Initiative. The Minister discussed the countries’ joint dedication to completing priority interconnection projects along the North-South axis of the Initiative such as the Rail2Sea enterprise and the construction of the Via Carpathia highway. Zuckerman conveyed his support for both of the projects.