The Romanian Investment and Development Bank (BID) has joined the Three Seas Initiative (3SI) Innovation Fund with a EUR 20 million commitment, becoming the fifth national promotional institution to back the EIF-led instrument. The fund, which backs growth-stage companies across Central and Eastern Europe, has now reached EUR 100 million in national contributions from Romania, Poland, Czechia, Hungary, and Croatia.
The European Investment Fund (EIF), part of the EIB Group, plans to match these commitments and aims to mobilise at least EUR 1 billion for private equity, venture capital, and private credit investments targeting companies across the region between the Baltic, Black, and Adriatic seas.
The fund focuses on boosting innovation, strengthening competitiveness, and accelerating green and digital transitions.
“BID’s commitment will help unlock new opportunities for Romanian and regional businesses, driving innovation, job creation, and sustainable growth. Together we are deepening the EU internal market and delivering on climate and competitiveness goals,” said EIF Chief Executive Marjut Falkstedt.
Romanian finance minister Alexandru Nazare also commented: “By joining the Three Seas Initiative Innovation Fund through the EUR 20 million commitment of the Romanian Investment and Development Bank, our country reconfirms its strategic role in Central and Eastern Europe. This decision reflects the Romanian government’s priority to support innovation, infrastructure, and economic convergence across the region.”
The 3SI Innovation Fund targets the participation of up to nine countries in the region, with Romania, Croatia, the Czech Republic, Hungary, and Poland included, and national commitments of EUR 180 million for investments in private equity, venture capital, and private credit funds.
The overall goal is to mobilise at least EUR 1 billion of new financing and bolster business growth in Central and Eastern Europe, where such funding has been relatively scarce and where meeting market demand is important for sustainable development and maintaining global competitiveness.
BID is the only development bank that is fully owned by the Romanian state, through the Ministry of Finance. It was created at the end of 2023 under the National Recovery and Resilience Plan.
irina.marica@romania-insider.com
(Photo source: LinkedIn/Banca de Investitii si Dezvoltare)
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