On 17th November a conference dedicated to the Three Seas Initiative Investment Fund was held in Vilnius (Lithuania). The event was organised by the Ministry of Finances of the Republic of Lithuania. It was attended by representatives of the Lithuanian Ministry of Finances and Foreign Affairs, as well as the Polish Development Bank (BGK) – the initiator and founder of the Fund.

President of BGK -Beata Daszyńska – Muzyczka estimates that there is still a huge gap between Western Europe and the Three Seas Initiative states. Manly in sectors such as digital infrastructure and energy. The Three Seas Initiative countries should spend 3% of their GDP to achieve the western level in the above mentioned sectors.

Each 1% spent on infrastructure investments in the Three Seas countries may bring profits from 2 to 2.5 %of GDP in future – economists forecast.

An important element of these actions is construction of gas connection between Poland and Baltic states, which will make countries such as Lithuania independent from supplies from Russia. Until 2025, Lithuania is to transfer its energy infrastructure from suppliers from the East to new network of links based on partners from the West. Connecting Lithuania with Sweden and Poland by means of electrical connections via the Baltic Sea is an interesting solution. (source: trimarium.pl)