24.09.2026.
With an objective of mobilising at least EUR 2 billion in investments into energy, transport, digital, and social infrastructure, an agreement was signed today formalising the launch of a Three Seas Initiative Infrastructure Fund of Funds, i.e. a new regional investment instrument intended to finance infrastructure projects in the area between the Baltic, Adriatic and Black Seas.
The European Investment Fund (EIF) and national development banks from Croatia, Slovenia, Poland, Romania, Lithuania and Bulgaria are participating in the initiative to launch the Fund. Through initial investments totalling EUR 360 million, the Fund will promote the financing of infrastructure projects of strategic importance for the development and competitiveness of the entire region. Of the stated amount, the national development banks are providing EUR 180 million, while the EIF will match that with at least an equal amount of funds.
This is the first multi-country investment programme of the EIF focused on infrastructure investments through investing in multiple infrastructure funds aiming to attract additional capital and accelerate the implementation of projects of strategic importance for economic development, strengthening of connectivity and increasing the competitiveness of the Three Seas Initiative member states.
The Croatian Bank for Reconstruction and Development (HBOR) participates in the Infrastructure Fund of Funds with an investment commitment of EUR 20 million, thus contributing to the creation of new sources of long-term capital for infrastructure projects in the region and further strengthening the investment potential of the Croatian economy.
“The European Investment Fund (EIF) is one of our key long-term partners with whom we have made major achievements in developing the Croatian venture capital and private equity market, which is why we believe that this new financial instrument will also enable the mobilisation of significant capital for infrastructure projects in Croatia and the wider area,” said on that occasion Alan Herjavec, Member of HBOR’s Management Board, who attended the formal signing of this agreement in Ljubljana.
Herjavec further emphasised the importance of the EIF’s strong engagement in Croatia and other parts of the European Union as well as its role in encouraging equity investments and reducing development gaps among European regions.
“At the moment when Europe is striving to strengthen its competitiveness and economic cohesion, initiatives like this one will have an important role in securing long-term capital for infrastructure projects across the region. Few institutions have the capacity to mobilise private investors on the scale that the EIF can achieve and to provide support for major projects of strategic importance to the European Union,” concluded Herjavec.
Marko Primorac, a Vice-President of the European Investment Bank (EIB) stressed that the initiative simultaneously created new infrastructure capacities and promoted the development of the investment market in the region.
“The best investment in infrastructure is one that also brings together new investors, and that is exactly what this initiative enables us to do. Every Euro invested by our partners is matched by the EIF, and the funds we support create the region’s long-term capacity to continue investing in development and infrastructure. Today, six countries are participating in the initiative, and the door remains open to new future partners,” said Marko Primorac.
Marjut Falkstedt, the Chief Executive of the European Investment Fund (EIF) emphasised the importance of a joint approach to financing infrastructure investments.
“Infrastructure connects people, businesses, and investments. This new regional investment channel will connect strategic infrastructure projects across multiple countries. By pooling national resources and EIF’s assets, we can support and create tangible projects that bring real benefits to both the region and Europe,” stated Marjut Falkstedt.
The Three Seas Initiative Infrastructure Fund of Funds will direct investments through multiple infrastructure funds, including those managed by experienced international managers as well as by new teams from the member states. The goal is to further develop the regional infrastructure investment market, attract additional funds from private and institutional investors and secure long-term financing for projects that contribute to energy security, transport connectivity, digital transformation and economic resilience of Croatia and the region.
With an objective of mobilising at least EUR 2 billion in investments into energy, transport, digital, and social infrastructure, an agreement was signed today formalising the launch of a Three Seas Initiative Infrastructure Fund of Funds, i.e. a new regional investment instrument intended to finance infrastructure projects in the area between the Baltic, Adriatic and Black Seas.
The European Investment Fund (EIF) and national development banks from Croatia, Slovenia, Poland, Romania, Lithuania and Bulgaria are participating in the initiative to launch the Fund. Through initial investments totalling EUR 360 million, the Fund will promote the financing of infrastructure projects of strategic importance for the development and competitiveness of the entire region. Of the stated amount, the national development banks are providing EUR 180 million, while the EIF will match that with at least an equal amount of funds.
This is the first multi-country investment programme of the EIF focused on infrastructure investments through investing in multiple infrastructure funds aiming to attract additional capital and accelerate the implementation of projects of strategic importance for economic development, strengthening of connectivity and increasing the competitiveness of the Three Seas Initiative member states.
The Croatian Bank for Reconstruction and Development (HBOR) participates in the Infrastructure Fund of Funds with an investment commitment of EUR 20 million, thus contributing to the creation of new sources of long-term capital for infrastructure projects in the region and further strengthening the investment potential of the Croatian economy.
“The European Investment Fund (EIF) is one of our key long-term partners with whom we have made major achievements in developing the Croatian venture capital and private equity market, which is why we believe that this new financial instrument will also enable the mobilisation of significant capital for infrastructure projects in Croatia and the wider area,” said on that occasion Alan Herjavec, Member of HBOR’s Management Board, who attended the formal signing of this agreement in Ljubljana.
Herjavec further emphasised the importance of the EIF’s strong engagement in Croatia and other parts of the European Union as well as its role in encouraging equity investments and reducing development gaps among European regions.
“At the moment when Europe is striving to strengthen its competitiveness and economic cohesion, initiatives like this one will have an important role in securing long-term capital for infrastructure projects across the region. Few institutions have the capacity to mobilise private investors on the scale that the EIF can achieve and to provide support for major projects of strategic importance to the European Union,” concluded Herjavec.
Marko Primorac, a Vice-President of the European Investment Bank (EIB) stressed that the initiative simultaneously created new infrastructure capacities and promoted the development of the investment market in the region.
“The best investment in infrastructure is one that also brings together new investors, and that is exactly what this initiative enables us to do. Every Euro invested by our partners is matched by the EIF, and the funds we support create the region’s long-term capacity to continue investing in development and infrastructure. Today, six countries are participating in the initiative, and the door remains open to new future partners,” said Marko Primorac.
Marjut Falkstedt, the Chief Executive of the European Investment Fund (EIF) emphasised the importance of a joint approach to financing infrastructure investments.
“Infrastructure connects people, businesses, and investments. This new regional investment channel will connect strategic infrastructure projects across multiple countries. By pooling national resources and EIF’s assets, we can support and create tangible projects that bring real benefits to both the region and Europe,” stated Marjut Falkstedt.
The Three Seas Initiative Infrastructure Fund of Funds will direct investments through multiple infrastructure funds, including those managed by experienced international managers as well as by new teams from the member states. The goal is to further develop the regional infrastructure investment market, attract additional funds from private and institutional investors and secure long-term financing for projects that contribute to energy security, transport connectivity, digital transformation and economic resilience of Croatia and the region.
