The Three Seas Fund is gaining momentum, claims the CEO of the Polish national development bank (BGK) Beata Daszyńska-Muzyczka.
The political aspect of the Three Seas Initiative has been the topic of strong discussion recently. This geopolitical project also includes tightening economic cooperation between member states and the Three Seas Fund is meant to help with that.
The BGK is meant to play a key role in creating the fund and the bank’s CEO explained in a Polish Radio interview that it is meant to gather a sum between EUR 3 to 5 bln, to improve the realization of cross-border investments.
Beata Daszyńska-Muzyczka pointed out, that in some sectors, this cooperation is lacking – as is the case of roads near borders. The Three Seas Fund is to help solve issues such as this one.
In 2018, six banks from the Central-Eastern European region declared their readiness to participate in the fund. In May 2019, it was officially initiated based on the notarial deed signed in Luxembourg.
The CEO said that the Fund’s shareholders will also be looking for investors outside of the Three Seas, and named the European Investment Bank, the European Bank for Reconstruction and Development and several other investment funds from other countries.
Daszyńska-Muzyczka underlined that the projects completed as part of the Fund will have to be of a commercial nature, so that they can bring profits to investors.