The Investment and Development Bank (BID) signed an agreement on Thursday to participate—on behalf of and for the account of the Romanian state—in the Three Seas Initiative Infrastructure Fund. This is a new regional platform managed by the European Investment Fund (EIF) and dedicated to financing strategic infrastructure in EU member states located between the Baltic, Adriatic, and Black Seas.
Romania is one of the fund’s two largest national contributors, with a commitment of €50 million made through BID.
According to a statement from the bank, the signing of the fund’s mandate agreement operationalizes the participation memorandum concluded in April 2016 at the Three Seas Initiative Summit in Dubrovnik and reinforces BID’s role as an institutional investor in strategic projects with regional impact.
Participating institutions from Romania, Poland, Lithuania, Bulgaria, Croatia, and Slovenia are contributing a combined €180 million. BID and the Polish development bank, BGK, are the leading contributors to the fund, with €50 million each.
The EIF will allocate at least an equal amount from the resources it manages, giving the platform a total initial investment capacity of €360 million. Through investments in infrastructure funds, the mechanism aims to mobilize at least €2 billion for energy, digital infrastructure, mobility, and social infrastructure in the region. “The role of the BID must be to multiply the resources Romania makes available for investments and to attract private capital alongside them. The 50 million euros we are committing now represent not merely a contribution to a regional fund, but capital entering a mechanism with a multiplier effect, capable of generating infrastructure investments several times larger,” stated Alexandru Nazare, Interim Minister of Finance, in the press release.
The EIF will select and monitor several infrastructure funds featuring both general and specialized strategies. The structure will accommodate experienced international managers as well as new or emerging teams from the participating countries.
Under this model, capital is distributed across managers, sectors, and project types, thereby reducing risk concentration and expanding financing capacity. The platform will act as an anchor investor in the selected funds—alongside other investors—to attract institutional and private capital into regional infrastructure.
“For the BID, signing the mandate agreement marks the transition from the intention to participate, announced in April, to a concrete investment commitment. The fund-of-funds model offers us diversification across multiple strategies and managers, while the EIF’s co-investment boosts our intervention capacity from the very start. At the same time, we are helping to build a regional market for infrastructure funds capable of attracting long-term capital and financing well-prepared projects in Romania and the wider region,” said Raluca Nicolescu, CEO of the Investment and Development Bank (BID).
The new fund-of-funds complements the other two investment vehicles developed under the Three Seas Initiative. BID contributes, on behalf of and for the account of the Romanian state, to the Three Seas Initiative Investment Fund through a €20 million commitment. According to the impact report published in 2026, this fund has already generated investments of approximately €255 million in the Romanian economy and has an estimated potential impact of around €1.24 billion in Romania over its lifespan.
In November 2025, BID also invested €20 million—on behalf of and for the account of the Romanian state—in the Three Seas Initiative Innovation Fund, an instrument managed by the EIF and aimed at innovative growth-stage companies. With the new €50 million commitment for infrastructure, Romania’s contributions via BID to the Initiative’s three vehicles total €90 million.
The partnership between BID and the EIF is also expanding at the national level. In June 2026, the two institutions signed a memorandum to create RoBOOST, a fund-of-funds dedicated to Romanian companies, for which BID envisages a €100 million contribution from its own funds.
“Romania needs massive investments in energy, transport, digital infrastructure, and projects that boost regional connectivity, and the public budget cannot meet this need alone. That is precisely why we are building instruments through which every penny of public money can attract additional resources and investment expertise,” added Alexandru Nazare, Minister of Finance.
The initial contributions are: BID Romania – €50 million; BGK Poland – €50 million; ILTE Lithuania – €25 million; JEREMIE Bulgaria (coordinated by Bulgaria’s Ministry of Innovation and Digital Transformation) – €25 million; HBOR Croatia – €20 million; and SID Kapital (a subsidiary of SID Banka Slovenia) – €10 million.
The platform remains open to other participants. The goal is to reach a total of €250 million in national contributions, an amount the EIF will at least match through co-investments.
The Investment and Development Bank (BID) is the only national development bank wholly owned by the Romanian state through the Ministry of Finance. Established in late 2023 under the National Recovery and Resilience Plan, BID supports economic and social development, competitiveness, innovation, sustainable economic growth, and the transition to climate neutrality, intervening where the financial market does not sufficiently meet financing needs.
The European Investment Fund (EIF) is part of the European Investment Bank Group. The EIF develops and implements equity, guarantee, and microfinance instruments and acts as an anchor investor to mobilize private and institutional capital in support of European objectives regarding competitiveness, innovation, digitalization, and sustainability.
The Three Seas Initiative is a political and economic cooperation platform involving 13 European Union member states located between the Baltic, Adriatic, and Black Seas. The initiative aims to develop regional connectivity and infrastructure, enhance European cohesion, and strengthen economic competitiveness. Romania is an active member and was the first state to host the Initiative’s Business Forum in 2018, where the foundations were laid for the first investment fund associated with the Initiative.