New Three Seas Initiative partnership to mobilise billions for strategic infrastructure across Central and Eastern Europe
Infrastructure projects across Central and Eastern Europe are expected to benefit at least €2 billion of new investment following a new partnership announced today between the European Investment Fund (EIF) and national promotional institutions from five EU countries at the Three Seas Initiative Summit in Croatia. The initiative will mobilize public money for a broad range of infrastructure investment funds operating across the region.
The EIF, together with national institutions from Poland (BGK), Romania (BID), Lithuania (ILTE), Croatia (HBOR) and Slovenia (SID Banka), signed a Memorandum of Understanding to launch the initiative later this year. Bulgaria has also pledged support to the initiative, through the Ministry of Innovation and Growth. Other Three Seas Initiative countries are expected to join after the new fund of funds is launched.
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Originally published on 28 Apr
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The coalition parties have agreed that either the state or Elering will support the construction of energy storage capacities. The Ministry of Climate historically believed energy storage would be built on market demand. The Ministry of Education and Research, Kristina Kallas stated, “If we purchase offshore wind energy on a large scale and develop these capabilities, we must also ensure that we have the infrastructure for long duration energy storage.” She emphasised that constructing an offshore wind facility without appropriate energy storage poses a significant risk of energy being exported.
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Originally published on 27 Jan
The Estonian Ministry of Economic Affairs and Communications has announced the launch of a €100 million Defence Fund, established to support the development of innovative defence and security capabilities to meet the growing global demand for new solutions. Managed by national fund manager SmartCap, the fund will provide direct investments to defence companies and funds investing in military and dual-use technologies.
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Originally published on 21 Jan
Doubts have been raised about Energiø Bornholm’s relevance and economy, but the project has never been more important. Besides being a crucial project in the European fight against climate change, the energy island has every opportunity to become a good business for Denmark.
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Originally published on 15 Jan
US healthcare products manufacturer Hollister Incorporated is expanding its Lithuanian operations. This month, the company has officially opened its financial services center, Hollister SSC Lithuania, complementing its manufacturing facility, Hollister Lietuva, located in the Kaunas Free Economic Zone. Building on this growth, the company has announced plans to establish a new product development (NPD) center at its Lithuanian facility later in the year.
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Originally published on 14 Jan
Estonia opened the first Business Hub in U.S. Located at the Embassy of Estonia in Washington, D.C., the Business Hub will serve as a bridge between Estonian companies and the vast business opportunities in the U.S. market. A delegation of Estonian defence industry innovators was present at the opening event, also attending the annual AUSA conference.
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Originally published on 17 Oct