The energy sector of the Three Seas Initiative will receive up to $1 billion

During the annual Munich Security Conference (14-16 February 2020) U.S. Secretary of State Mike Pompeo said the American administration will support Central and Eastern Europen energy infrastructure with $1 billion.

The U.S. has repeatedly expressed concerns about the European dependency on Russian energy imports. Especially the development of the Nord Stream 2 pipeline project to deliver gas from Russia directly to Germany via the Baltic Sea is regarded a threat to energy security.

The financing would be received by the participants of Three Seas Initiative: EU member states located between the Adriatic, the Baltic and the Black Seas. The initiative coordinates infrastructure policies with a strong support from across the Atlantic. All members, except for Austria, all are also part of NATO.

And as a brand new statement today of our support for sovereignty, prosperity, and energy independence of our European friends, today I want to announce that through the International Development Finance Corporation, and with the support of our United States Congress, we intend to provide up to $1 billion in financing to Central and Eastern European countries of the Three Seas Initiative.said U.S. Secretary of State Mike Pompeo.

 

Three Seas Initiative is a flexible political platform, at Presidential level, launched in 2015. It aims at boosting connectivity and facilitating real convergence among EU Member States, thereby contributing to enhanced EU unity, increased EU cohesion and coherence, further EU integration, as a basis for the re-launching of the European project. The Three Seas Initiative is also a regional contribution to the strengthening of the transatlantic link.

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