The US International Development Finance Corporation (DFC) is committing up to $300m (€280m) to Amber Infrastructure’s Central and Eastern Europe-focused infrastructure fund.
DFC is providing the financing to enable the Three Seas Initiative Investment Fund (3SIIF) to “continue building a geographically diversified portfolio across the Three Seas region, initially supporting investments in energy infrastructure and transportation”.
DFC and 3SIIF said the first disbursement under the up to $300m financing agreement has been made to support energy and infrastructure investments across the region.
To date, 3SIIF has committed over €800m across nine countries. The fund’s investment since March 2020 includes the acquisition of Polish locomotive lessor Cargounit, the financing of the construction of a data centre in the Baltics and the acquisition of a majority interest in renewables developer Enery. The fund also bought a “significant interest” in BMF Port Burgas EAD, a major port operator in the Port of Burgas in Bulgaria.
Last year, the fund invested €150m to acquire a stake in independent power producer R Power.
DFC’s CEO, Scott Nathan, said: “Today’s announcement reaffirms the US commitment to our partners in the Three Seas region. We are working together to promote energy security and regional economic development, to strengthen geopolitical ties, and to counter Russian aggression in Europe.
“We are confident that our strong relationship with the Three Seas countries will present additional opportunities for DFC to grow values-based, high-standard investment into the private sector throughout the region.”
Bartosz Drabikowski, chair of the fund’s supervisory board, said: “This marks a significant milestone in our valued partnership with DFC and our efforts to support sustainable development in the region.
“With this capital, we will be able to fast-track the next phase of investments to drive economic growth and connectivity across the Three Seas region.”
Gavin Tait, CEO of Amber Infrastructure Group, added, “We’re delighted to work alongside our partners in the US, and we share their passion and enthusiasm for achieving our mutual goals in growing this exciting region. Amber is proud of its ongoing work in the region, and looks forward to continuing the relationship over the coming years.”
To read the latest IPE Real Assets magazine click here.
