Three Seas Initiative Investment Fund Boosts Bulgarian Economy by 2.67 Billion Euros

The Three Seas Initiative Investment Fund (3SIIF) will have an economic impact of more than 2.67 billion euros on Bulgaria, according to a new report from Ernst &Young for the period between 2020 and 2035. The report highlights that Bulgaria is one of the most significant beneficiaries of the initiative, supporting over 4,000 jobs and major investments in port and energy infrastructure.

The 3SIIF investments in Bulgaria will support an average of 4,186 jobs annually and generate over 622 million euros in tax revenues over a 15-year period. Bulgaria joined the Three Seas Initiative in 2015, and the Bulgarian Development Bank (BDB) became an institutional investor in the fund in 2020 as a Class A shareholder.

A key investment in Bulgaria is the expansion of the BMF Port Burgas, a strategic project for the development of Black Sea port infrastructure. Since 2022, more than 100 million euros have been invested in the port, including expansion of berths, improved rail connections, and modernization of cargo handling facilities. The port currently processes over 7 million tons of cargo annually and more than 150,000 TEU of container traffic, making it a critical logistics and transportation hub in the Black Sea region.

The 3SIIF has also invested in the largest photovoltaic park in Bulgaria near Karadjalovo, part of the portfolio of the Austrian company Enery. The park has an installed capacity of over 100 MW, producing enough electricity for approximately 27,000 households. The investment marks the beginning of the 3SIIF's presence in the country and is part of the fund's strategy to accelerate the energy transition and development of renewable energy sources in Central and Eastern Europe.

According to Zanko Arabadjiev, a member of the Supervisory Board of the fund and executive director of the BDB, the results of the report show that strategic infrastructure investments have a real economic effect on Bulgaria. With the BDB's contribution of 10.2 million euros (20 million Bulgarian lev) to the fund, the expected impact on the Bulgarian economy by 2035 is 2.67 billion euros – more than 260 times the bank's investment. This clearly demonstrates how public capital can attract large-scale investments and generate long-term value for the economy, he added.