The Bank Gospodarstwa Krajowego (BGK) in Poland and EximBank Romania has announced the establishment and launching of the fundraising for its Three Seas Initiative Investment Fund that seeks to focus on transport, energy and digital infrastructure projects in the Three Seas region.

The Fund plans to engage in, on a commercial basis, infrastructure with a total value up to EUR100 billion and at various stages of advancement that may include greenfield or brownfield investments, acquisition of shares, and participation in special purpose vehicles or subordinated debt.

Both banks have raised their commitments to the Fund that has now the current total amount exceeding EUR500 million (US$565.98 million). Negotiations are now being conducted to include European investment and development banks as well as the World Bank in the participation. Other investors will be targeted among pension funds, private equity funds, private investors and others with the final goal to raise 3-5 billion euros (up to US$5.7 billion).