The US International Development Finance Corporation (DFC) is committing up to $300m (鈧�280m) to Amber Infrastructure鈥檚 Central and Eastern Europe-focused infrastructure fund.
DFC is providing the financing to enable the Three Seas Initiative Investment Fund (3SIIF) to 鈥渃ontinue building a geographically diversified portfolio across the Three Seas region, initially supporting investments in energy infrastructure and transportation鈥�.
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 鈧�800m across nine countries. The fund鈥檚 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 鈥渟ignificant interest鈥� in BMF Port Burgas EAD, a major port operator in the Port of Burgas in Bulgaria.
Last year, the fund invested 鈧�150m to acquire a stake in independent power producer R Power.
DFC鈥檚 CEO, Scott Nathan, said: 鈥淭oday鈥檚 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.
鈥淲e 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.鈥�
Bartosz Drabikowski, chair of the fund鈥檚 supervisory board, said: 鈥淭his marks a significant milestone in our valued partnership with DFC and our efforts to support sustainable development in the region.
鈥淲ith 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.鈥�
Gavin Tait, CEO of Amber Infrastructure Group, added, 鈥淲e鈥檙e 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.鈥�
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