U.S. International DFC and 3SIIF Agree to Term Sheet for up to US$300 Million in Financing

RIGA, Latvia -- United States International Development Finance Corporation (‘DFC’) and the Three Seas Initiative Investment Fund S.A. SICAV-RAIF (‘3SIIF’, ‘the Fund’) have agreed to a term sheet that will form the basis of an agreement under which DFC will provide up to $300 million (c.€280m) of financing to the Fund. DFC financing will support energy and infrastructure investments that enhance energy security, facilitate energy diversification, and improve connectivity in the Three Seas region.  

DFC is the United States’ development finance institution and has an investment portfolio of more than $37 billion committed globally, with an emphasis on less-developed countries. DFC works with investors to deploy capital across a range of sectors, including critical infrastructure. DFC investments adhere to the highest standards and aim to advance economic and social development in the regions in which it invests.

3SIIF invests in eligible transportation, energy, and digital infrastructure on the North-South axis of the Three Seas region which comprises 12 EU member states in Central and Eastern Europe (CEE) and aims to reduce the socio-economic gap with the other Member States of the European Union. Investment from DFC would bring the Fund’s capital commitment to c. €1.3bn.

The Fund is delighted to have the backing of the DFC which it believes will further strengthen transatlantic business, energy, and geopolitical ties with the Three Seas region. 3SIIF’s investment strategy reflects DFC’s value-driven approach and focus on sustainable development as well as advancing environmental and social objectives. DFC will play an important role in supporting investment into 3SIIF’s investment pipeline across Three Seas member states.

The Fund and DFC will now work together to finalise the legal documentation to implement the agreement. DFC and the Fund expect the financing to be finalised during 2022.

“The current geopolitical and economic challenges have highlighted the importance of the Three Seas Region,” said Beata Daszynska-Muzyczka, President of the Polish State Development Bank (BGK) and Chairperson of the Supervisory Board of the Three Seas Initiative Investment Fund. “The investment needs of this region are critical for EU cohesion, continued economic growth as well as for improved connectivity and energy security.  I am very happy that our American friends from DFC share this view and intend to invest in the Three Seas Fund.” 

“DFC is committed to investing in the Three Seas Initiative Investment Fund. This will promote energy security and counter Russian aggression in Europe,” said DFC CEO Scott Nathan. “The strong U.S. relationship with the Three Seas countries provides an enormous opportunity for values-based, high-standard investment alongside the private sector. The collaboration between DFC and 3SIIF will facilitate inclusive economic growth and development throughout the region.”

IMPORTANT NOTICE

This announcement does not constitute or form part of, and should not be construed as, an offer, invitation or inducement or recommendation to make an investment nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

For further information:

The Three Seas Initiative Investment Fund

3SIIF is a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe (‘CEE’).  The Fund invests in energy, transport and digital infrastructure in European Union (‘EU’) CEE member states which border the Baltic, Adriatic and Black Seas where the demand for long-term commercial investment into national infrastructure is among the highest in the EU. The Three Seas region is comprised of 12 EU CEE member states which border the Baltic, Adriatic and Black Seas.

The Fund’s investments comprise: Cargounit, Poland’s largest locomotive leasing business which is currently expanding within the Three Seas Region; Enery, a renewable generation company developing assets in the Three Seas Region, with a portfolio of operating solar generation assets in Bulgaria, Czech Republic and Slovakia; Greenergy, a data centre platform aiming to service the compute and storage needs of the Three Seas Region and BMF Port Burgas, a major port operator in Bulgaria.

Amber Infrastructure Group is the exclusive investment adviser to the Fund and is responsible for origination, asset management and capital raising services.

DFC

U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

Amber Infrastructure Group

Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management.  Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.

Amber is headquartered in London with offices in Europe, North America and Australia and employs over 160 infrastructure professionals.