Three Seas Initiative (3SI)
The Three Seas Initiative (3SI) is an informal intergovernmental platform founded by Poland and Croatia, which, after the accession of our country (see below), brings together 13 EU countries located between the Baltic, Black, Adriatic, and Aegean Seas. Germany, the USA, and the European Commission also participate as "strategic partners." The rules and objectives of the 3SI are political and are described in the declarations of the annual Summit Meetings, held once a year in the country holding the Presidency of the Initiative. The first Summit Meeting took place in Dubrovnik, Croatia, in 2016.
The mission of the 3SI is to promote the implementation of interconnectivity projects through investments in cross-border infrastructure in the fields of energy, transportation, and digital communication among the 13member states of the Initiative. The ultimate goal is to bridge the development gaps between the stronger and weaker economies within the EU, especially among the member states in the eastern wing of the EU.
The list of interconnectivity projects includes 91 priority projects with an estimated total budget of approximately €181 billion. These projects include 49% for transport infrastructure, 37% for energy infrastructure, and 14% for digital communication projects. The implementation of these projects is funded by the Three Seas Initiative Investment Fund, which has been established for this purpose, along with potential co-financing from other international financiers (international and European financial organizations and banks, international investment funds, private investors, etc.).
As for the Three Seas Initiative Investment Fund, as the financial instrument of the 3SI, nine of the twelve members participate. Estonia, Latvia, Hungary, Bulgaria, Lithuania, Slovenia, Croatia, and Romania participate with the minimum required contribution of €20 million, while Poland has by far the largest contribution (€750 million).
Our country joined the Initiative as the 13th full member during the 8th 3SI Summit Meeting in Bucharest on September 6, 2023. The President of the Republic represented our country at this Summit Meeting. Furthermore, during the 8th 3SI Summit Meeting in Bucharest, it was decided to initiate the participation of Ukraine and Moldova as "associated participating states."
Our country's accession to the Initiative offers the opportunity to monitor processes within a large grouping of EU member states, where other states are gradually participating in various ways and participating in the shaping of its priorities. It is considered mutually beneficial for both the Initiative and our country, as it allows the expansion of the geopolitical footprint of the 3SI and the projects of interconnectivity it envisions, not only in the Mediterranean and Aegean but also more broadly in North Africa and Middle East region, as a result of planned interconnection projects (energy, telecommunications) between our country and countries in this region.
The 9th and 10th Summit Meetings will be held in Lithuania in 2024 and Hungary in 2025.
