Three Seas Investment Fund Delivers More Than EUR 2.6 Billion in Economic Impact for Bulgaria
Bulgaria is among the initiative's largest beneficiaries, with more than 4,000 jobs supported and major investments in port and energy infrastructure
Investments by the Three Seas Initiative Investment Fund (3SIIF) are expected to generate more than EUR 2.67 billion in economic impact for Bulgaria, placing the country among the largest beneficiaries of the Fund's activities across the region.
These findings are presented in the first Impact Report, prepared by Ernst & Young, covering the period 2020 - 2035. According to the report, 3SIIF's investments in Bulgaria are expected to support an average of 4,186 jobs annually and generate more than EUR 622 million in tax revenues over a 15-year period.
Bulgaria joined the Three Seas Initiative in 2015, while the Bulgarian Development Bank (BDB) became a Class A institutional shareholder in the Fund in 2020.
One of the Fund's flagship investments in Bulgaria is BMF Port Burgas, a strategic project aimed at expanding port infrastructure on the Black Sea. Since 2022, more than EUR 100 million has been invested in the port's development, including the expansion of berths, improvements to rail connectivity, and the modernization of cargo-handling facilities.
Today, BMF Port Burgas handles more than 7 million tonnes of cargo annually and over 150,000 TEU of container traffic, making it a key logistics and transportation hub in the Black Sea region. The port operates 16 berths, five quay areas, and offers a maximum depth of 15.5 metres, enabling it to accommodate large commercial vessels.
Another major investment supported by the Three Seas Investment Fund is Bulgaria's largest photovoltaic park, located near the village of Karadzhalovo and owned by the Austrian company Enery. With an installed capacity of more than 100 MW, the solar park generates enough electricity to supply approximately 27,000 households.
The investment marked 3SIIF's first project in Bulgaria and forms part of the Fund's broader strategy to accelerate the energy transition and expand renewable energy infrastructure across Central and Eastern Europe.
According to Tsanko Arabadzhiev, Member of the Fund's Supervisory Board and Chief Executive Officer of the Bulgarian Development Bank, the report clearly demonstrates that strategic infrastructure investments create tangible economic value for Bulgaria.
"With BDB's investment of EUR 10.2 million (BGN 20 million) in the Fund, the expected impact on the Bulgarian economy is estimated at EUR 2.67 billion by 2035 - more than 260 times the Bank's contribution. This is a clear example of how public capital can mobilize large-scale private investment and generate long-term value for the economy," Arabadzhiev said.
About the Three Seas Initiative Investment Fund (3SIIF)
The Three Seas Initiative Investment Fund (3SIIF) is a specialised commercial investment fund focused on infrastructure projects across Central and Eastern Europe. The Fund invests in energy, transport, and digital infrastructure in EU Member States located between the Baltic, Adriatic, and Black Seas, where the need for long-term commercial investment in national infrastructure remains among the highest in the European Union.
To date, the Fund has invested almost all of its EUR 1.1 billion capital across five major investments: Cargounit, Greenergy Data Centers, BMF Port Burgas, Enery, and R.Power.
The Three Seas region comprises 13 EU Member States: Austria, Bulgaria, Croatia, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia.