BGK / New investor and investment in the Three Seas Fund

Two major announcements regarding the Three Seas Fund were made during the Three Seas Summit and Business Forum, that took place in Riga (June 20-21).

During the panel discussion “The Three Seas Region – primed for future-proof investment” Scott Nathan, the CEO of DFC, confirmed that the institution will become another investor in the fund. Its capital commitment will amount up to USD 300 million (c. EUR 280 million), thanks to which the total gathered capital in the fund will amount to c. EUR 1.3 billion.

Beata Daszyńska-Muzyczka, the CEO of BGK who also took part in the disvcussion, commented: “The investment needs of this region are critical for EU cohesion, continued economic growth as well as for improved connectivity and energy security. I am very happy that our American friends from DFC share this view and intend to invest in the Three Seas Fund.”

DFC (U.S. International Development Finance Corporation) cooperates with private sector in order to finance key solutions within such areas as energy, health care or new technologies. DFC invests globally, especially in the developing countries.

During the panel discussion, Joe Philipsz from Amber Infrastructure also announced the fourth investment of the Three Seas Fund. It is a Bulgarian port in Burgas. The Fund has acquired a significant interest in the company that is the main operator in that port.

The investment in BMF Port Burgas is well aligned with the Fund’s objective to improve connectivity within the region of Baltic, Adriatic and Black seas. The Port of Burgas is an important infrastructure element connecting the Three Seas Region with Central Asia and the Middle East.

Thanks to the Fund’s investment, new opportunities open for the port: extension of existing berths, construction of new berths, further modernization of facilities and the ability to handle new types of cargo.

More information about The Three Seas Initiative Investment Fund.