US Congress to donate USD 1 bn to Three Seas energy projects

The US government wants to donate one billion dollars to energy projects due to be implemented within the Three Seas Initiative, the US Secretary of State Mike Pompeo announced during the World Security Conference in Munich.

The funds will be allocated by the International Development Finance Corporation with the support of the US Congress.

Mr Pompeo stated that the decision was aimed at reviving private investment in the energy sectors of the Three Seas, as well as to help reduce the dependence of Central and Eastern European countries on Russia.

In his speech, the US Secretary of State talked about support for the Three Seas countries and denounced the voices about NATO being in decline.

“We're here today to talk about the facts. The claims of the death of the North Atlantic Alliance are drastically exaggerated. The West wins, we all win, together”, he said.

“This declaration is very important and proves that the US treats the Three Seas initiatives seriously,” said Polish Foreign Minister Jacek Czaputowicz, who also attends the Munich conference.

He added that the US wanted to show their support by getting involved in the infrastructure development in Central Europe

“These money will be spent on the increase of the energy resources flow, as well as on upgrading the infrastructure related to it,” Mr Czaputowicz said.

Established in 2015, the Three Seas Initiative seeks to strengthen ties between countries located in the region bordering on the Black, Baltic and Adriatic seas. It brings together Poland, the Czech Republic, Slovakia, Hungary, Lithuania, Latvia, Estonia, Croatia, Slovenia, Bulgaria, Romania and Austria.

The conference, which lasts until Sunday, is being attended by over 500 high-level representatives of politics, economy, science and civic movements from around the world. Poland is represented by Minister of Foreign Affairs Jacek Czaputowicz.