In its capacity of chair of the Three Seas Initiative in 2021, Bulgaria welcomes yesterday’s decision by the US to take part in the Three Seas Initiative Investment Fund with 300 million USD, the press service of the Bulgarian Ministry of Foreign Affairs has announced. The funds allocated are earmarked for the development of the cross-border energy infrastructure in Central and Eastern Europe.

In September Bulgaria allocated 20 million euro to the Fund and proposed the implementation of several key projects under the initiative – the extension of the gas storage facility at Chiren as an important element of the strategic energy infrastructure in Bulgaria and the region; the rehabilitation of the Ruse-Varna railway line; the construction of the tunnel under Petrohan pass and of Cherno More motorway (Black Sea), connecting Burgas with Varna.

Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva has been appointed national coordinator of  Three Seas matters. An interagency coordination group has been set up, as well as a secretariat to organize the Bulgarian chairmanship which includes representatives of the presidential administration.