Hungary has recently decided to join the Three Seas Initiative (3SI) Investment Fund, and offered to host the 3SI permanent Secretariat in Budapest. Hungary, together with the U.S. Administration and Congress strongly supports the 12 member strong regional initiative that aims to increase connectivity, security and further economic growth in the region. As the Initiative enters into its operative phase with the first project grants to be awarded, Hungary looks forward with working all stakeholders, including the United States, to make the project a transatlantic success story.
Hungary remains committed to the success of the Three Seas Initiative
June 3, 2020 11:11 AM
The Hungarian Government has decided to join the Three Seas Initiative Investment Fund with 20 MEURs, thus becoming the third Member of the Fund. The Hungarian Export-Import Bank’s aim is to finalize its accession before the TSI Ministerial Conference in June.
Hungary is an active Member of the Three Seas Initiative (TSI) since its conception, supporting its objective of investing in joint energy, infrastructure and IT projects that increase connectivity, security and further economic growth in the Central European region.
Hungary also proposes that the TSI establishes its permanent secretariat in Budapest. Launching an international secretariat will increase the visibility and capacities of the Initiative and enhance continuity, coordination and information sharing among stakeholders.
The next 3SI Summit in Tallinn in October can become one of the first examples of transatlantic economic cooperation involving States, international financial institutions, third party investors and the business sector in the post-COVID era, thus also contributing to economic recovery in the TSI region.