28.04.2026.
The Croatian Bank for Reconstruction and Development (HBOR) signed a Memorandum of Understanding with the European Investment Fund (EIF) and the national promotional institutions from Poland (BGK), Romania (BID), Lithuania (ILTE) and Slovenia (SID banka) at the Three Seas Initiative Summit in Dubrovnik today with the aim of establishing a new fund of funds for infrastructure investments in Central and Eastern Europe. The signing was also attended by Andrej Plenković, Prime Minister of the Republic of Croatia.
The new initiative, the Three Seas Initiative Infrastructure Fund of Funds, aims to mobilise at least EUR 2 billion in investments in projects in the fields of energy, transport, digital and social infrastructure. It is a joint effort that will use public funds to encourage additional private investments and accelerate the implementation of strategic projects important for the competitiveness and resilience of the economies in the region.
The participating countries plan to jointly provide approximately EUR 250 million, while the EIF will further multiply these funds through investments in infrastructure funds. Such a model is expected to attract significant interest from private investors and enable financing of larger and more complex projects. Bulgaria has also expressed its willingness to join the initiative, while other Three Seas Initiative member states are expected to join after the establishment of the fund.
"I am pleased that the Republic of Croatia, through HBOR, continues to actively participate in the development of financial instruments under the Three Seas Initiative. The experience confirms that a joint approach can significantly accelerate investments in the areas crucial for the competitiveness of our economies. We see the new fund of funds as an important step further in improving the availability of capital for projects in energy, transport and digital connectivity. The Memorandum is particularly important for us because it sets the framework for further cooperation with the European Investment Fund and partners and it opens up new investment opportunities in the projects of strategic importance for Croatia," said Hrvoje Čuvalo, President of HBOR’s Management Board.
The initiative will support both experienced international fund managers and new teams from Central and Eastern Europe, which will further strengthen the regional capital market and improve access to long-term finance for infrastructure projects.
The fund of funds model will enable investments across multiple funds, ensuring broader geographic and sector coverage and reducing investment risk, while simultaneously facilitating the financing of large infrastructure projects.
The Croatian Bank for Reconstruction and Development (HBOR) signed a Memorandum of Understanding with the European Investment Fund (EIF) and the national promotional institutions from Poland (BGK), Romania (BID), Lithuania (ILTE) and Slovenia (SID banka) at the Three Seas Initiative Summit in Dubrovnik today with the aim of establishing a new fund of funds for infrastructure investments in Central and Eastern Europe. The signing was also attended by Andrej Plenković, Prime Minister of the Republic of Croatia.
The new initiative, the Three Seas Initiative Infrastructure Fund of Funds, aims to mobilise at least EUR 2 billion in investments in projects in the fields of energy, transport, digital and social infrastructure. It is a joint effort that will use public funds to encourage additional private investments and accelerate the implementation of strategic projects important for the competitiveness and resilience of the economies in the region.
The participating countries plan to jointly provide approximately EUR 250 million, while the EIF will further multiply these funds through investments in infrastructure funds. Such a model is expected to attract significant interest from private investors and enable financing of larger and more complex projects. Bulgaria has also expressed its willingness to join the initiative, while other Three Seas Initiative member states are expected to join after the establishment of the fund.
"I am pleased that the Republic of Croatia, through HBOR, continues to actively participate in the development of financial instruments under the Three Seas Initiative. The experience confirms that a joint approach can significantly accelerate investments in the areas crucial for the competitiveness of our economies. We see the new fund of funds as an important step further in improving the availability of capital for projects in energy, transport and digital connectivity. The Memorandum is particularly important for us because it sets the framework for further cooperation with the European Investment Fund and partners and it opens up new investment opportunities in the projects of strategic importance for Croatia," said Hrvoje Čuvalo, President of HBOR’s Management Board.
The initiative will support both experienced international fund managers and new teams from Central and Eastern Europe, which will further strengthen the regional capital market and improve access to long-term finance for infrastructure projects.
The fund of funds model will enable investments across multiple funds, ensuring broader geographic and sector coverage and reducing investment risk, while simultaneously facilitating the financing of large infrastructure projects.